Moderna (MRNA) is down sharply this morning following a report that “human error” was to blame for the metal contaminants in COVID-19 vaccine doses that led Japan to suspend the use of 1.63 million doses.
No matter that the recall was announced in August nor that we’re talking about 1.63 million out of the 1 billion doses Moderna projects it could produce this year. We need to roll our spread now to avoid assignment.
Current Stock Price: $328.75
Cash in Hand: $0.56
- Buy to close the MRNA Oct Week One (10/1) 360 Put for around $30.90
- Sell to close the MRNA Oct Week One (10/1) 350 Put for around $21.60
- Set initial debit limit at $9.30
- Sell to open the MRNA Oct Monthly (10/15) 300 Put for around $10.05
- Buy to open the MRNA Oct Monthly (10/15) 290 Put for around $7.40
- Set initial credit limit at $2.65
New Net Debit: $6.09