Advanced Micro Devices (AMD) is moving higher, so I am recommending we ladder up our put to generate more income.

Current Stock Price: $85.26

Cash in Hand: $0.66

Action:

• Buy to close the AMD Aug Week One (8/7) 75 Put for around $0.06
• Sell to open the AMD Aug Week One (8/7) 81 Put for around $0.32
• Set your initial credit limit at $0.26, but adjust as needed to roll today

New Cash in Hand: $0.92

Expiration: After the close on Friday, Aug. 7

Potential Rate of Return: 1.1% in five days, or 83% on an annualized basis, if this option expires worthless