Let’s ladder up our Starbucks (SBUX) put to continue to chip away at our net debit.
Current Stock Price: $93.89
Net Debit: $10.65
- Buy to close the SBUX Nov Week Two (11/13) 87.50 Put for around $0.02
- Sell to open the SBUX Nov Monthly (11/20) 92.50 Put for around $0.85
- Set initial credit limit at $0.83
New Net Debit: $9.82