I am recommending we roll our Apple (AAPL) call to a lower strike to generate more cash and lower our cost bais.
Let’s also close our Moderna (MRNA) put, booking a huge profit on a position open less than 24 hours.
AAPL Mar Week Two (3/12) 130 Call
Current Stock Price: $120.10
Cost Basis: $132.37
Action:
- Buy to close the AAPL Mar Week Two (3/12) 130 Call for around $0.03
- Sell to open the AAPL Mar Week Two (3/12) 124 Call for around $0.31
- Set your initial credit limit at $0.28
New Cost Basis: $132.09
MRNA Mar Week Two (3/12) 120 Put
Current Stock Price: $133.28
Cash in Hand: $1.47
Action: Buy to close the MRNA Mar Week Two (3/12) 120 Put
Current Option Price: $0.25-$0.64
Recommended Limit: Set your initial limit order at $0.45, but adjust as needed to close today
Profit: $1.02, or $102 per contract
Rate of Return: 0.9% in two days, or 155% on an annualized basis