I am recommending we sell another put on Square (SQ) to continue to reduce our net debit on the position.
You can make this trade even if you were not in the previous position. Just be aware that we will be managing and tracking it as an ongoing position.
Current Stock Price: $150.01
Net Debit: $9.35 (Note that this includes income generated during Income Madness.)
Action: Sell to open the SQ Aug Week Four (8/28) 145 Put for around $2.92
New Net Debit: $6.43