Peloton Interactive (PTON) is still trading above our short strike, but given current market volatility and the fact that earnings are scheduled to be released next week, I want to close the position now. I will recommend another spread after earnings come out to continue to work away at our net debit.
Current Stock Price: $144.71
Net Debit: $3.11
- Buy to close the PTON Jan Week Five (1/29) 140 Put for around $0.50
- Sell to close the PTON Jan Week Five (1/29) 130 Put for around $0.10
- Set initial debit limit at $0.40
New Net Debit: $3.51