Note that we do not recommend doubling up on a stock. Choose the strategy that best suits your trading goals and risk tolerance. If you are new to spread trading, please watch my Bull Put Spread Coaching Session before entering the trade.
TRADE ONE: Sell to open Micron Technology (MU) Apr Week One (4/1) 79 Put for around $0.45. You can go as low as $0.40, but please don’t start there and always use limit orders. (Current stock price: $81.81)
Bull Put Spread: Sell to open the MU Apr Week Two (4/8) 75 Put for around $0.43 and buy to open the MU Apr Week Two (4/8) 70 Put for around $0.13. Set initial credit limit at $0.30.