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Income Masters Trade Alert: SQ

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

Action:

  • 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

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