Square (SQ) is down sharply today, so I am recommending we close the spread now to avoid potential assignment. We will continue the position by selling a new spread soon, carrying over our net debit.
Current Stock Price: $153.89
Cash in Hand: $0.50
- Buy to close the SQ Oct Week Five (10/30) 155 Put for around $2.40
- Sell to close the SQ Oct Week Five (10/30) 145 Put for around $0.35
- Set initial debit limit at $2.05
Net Debit: $1.55