We have a net debit on Lululemon Athletica (LULU) from ongoing spread positions. I am recommending we initiate a new spread today to generate income and reduce that net debit.
You can enter today’s spread even if you were not in the previous trade. Just be aware that we will be tracking it as an ongoing position.
If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trade.
Current Stock Price: $391.43
Net Debit: $1.81
- Sell to open the LULU Aug Monthly (8/20) 360 Put for around $2.43
- Buy to open the LULU Aug Monthly (8/20) 350 Put for around $1.41
- Set initial credit limit at $1.02
New Net Debit: $0.79