I am recommending we roll our put on The Trade Desk (TTD) out two and a half weeks and to a lower strike to reduce our risk ahead of the Federal Reserve meeting and pick up more income.
You can enter today’s trade even if you were not in the previous one by selling the second leg. Just be aware that we will be managing and tracking based on the ongoing position.
Current Stock Price: $60.35
Net Debit: $0.02
- Buy to close the TTD May Week One (5/6) 55 Put for around $0.79
- Sell to open the TTD May Monthly (5/20) 45 Put for around $1.20
- Set initial credit limit at $0.41, but adjust as needed to roll today
New Cash in Hand $0.39