Moderna (MRNA) rebounded quickly from its post-earnings sell-off, and the put we sold is well out of the money. I am recommending we roll it out one week and to a higher strike price to generate more cash.
You can enter the second leg of today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $168.11
Net Debit $30.12
- Buy to close the MRNA Nov Week Two (11/11) 145 Put for around $0.12
- Sell to open the MRNA Nov Monthly (11/18) 150 Put for around $1.40
- Set initial credit limit at $1.28, but adjust as needed to roll today
New Net Debit: $22.84