Moderna (MRNA) has shot up 25% on news that its personalized vaccine candidate reduces the risk of melanoma recurrence or death by 44% when given to patients in combination with Merck’s (MRK) Keytruda. This is huge for the company, and investors are responding accordingly.
We can pick up a big chunk of cash by rolling our put out one week and to a higher strike that is nearly 10% out of the money.
Current Stock Price: $210.29
Net Debit: $25.55
Action:
- Buy to close the MRNA Dec Monthly (12/16) 150 Put for around $0.03
- Sell to open the MRNA Dec Week Four (12/23) 190 Put for around $1.93
- Set initial credit limit at $1.90, but adjust as needed to roll today
New Net Debit: $23.65