I am recommending we roll our SPDR S&P Regional Banking ETF (KRE) put to a higher strike while keeping the expiration date the same. This will turn our net debit into cash in hand.
Current Stock Price: $62.92
Net Debit: $0.14
- Buy to close the KRE Jun Week One (6/3) 60 Put for around $0.13
- Sell to open the KRE Jun Week One (6/3) 62.50 Put for around $0.52
- Set initial credit limit at $0.39, but adjust as needed to roll today
New Cash in Hand: $0.25