I am recommending we roll our Microsoft (MSFT) and Square (SQ) puts.
MSFT Sep Week Two (9/11) 220 Put
Note: No action is needed on the MSFT Sep Monthly (9/18) 200/195 Put Spread at this time.
Current Stock Price: $210.71
Cash in Hand: $4.70
Action:
- Buy to close the MSFT Sep Week Two (9/11) 220 Put for around $9.55
- Sell to open the MSFT Sep Monthly (9/18) 220 Put for around $10.90
- Set initial credit limit at $1.35
New Cash in Hand: $6.05
SQ Sep Week Two (9/11) 150 Put
Current Stock Price: $145.24
Net Debit: $2.45
Action:
- Buy to close the SQ Sep Week Two (9/11) 150 Put for around $5.45
- Sell to open the SQ Sep Monthly (9/18) 150 Put for around $7.90
- Set initial credit limit at $2.45
New Cash in Hand: $0