I am recommending we roll our Micron Technology (MU) put out one week and to a lower strike.
Our Zoom Video Communications (ZM) spreads are on track to expire worthless, allowing us to book a maximum profit.
MU Mar Week Two (3/12) 89 Put
Current Stock Price: $87.43
Cash in Hand: $1.68
Action:
- Buy to close the MU Mar Week Two (3/12) 89 Put for around $1.75
- Sell to open the MU Mar Monthly (3/19) 87.50 Put for around $2.47
- Set initial credit limit at $0.72
New Cash in Hand: $2.40
ZM Mar Week Two (3/12) 310/300 Put Spread
Current Stock Price: $340.79
Cash in Hand: $1.10
Action: Watch spread expire worthless
Profit: $1.10, or $110 per spread
ZM Mar Week Two (3/12) 300/290 Put Spread
Cash in Hand: $0.75
Action: Watch spread expire worthless
Profit: $0.75, or $75 per spread