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OIB Trade Alert: C

I am recommending we roll our Citigroup (C) put out two weeks to buy some time and generate a little income that will reduce our net debit on the position.

Current Share Price: $46.26

Net Debit: $15.14

Action:

  • Buy to close the C Jun Monthly (6/17) 50 Put for around $3.75
  • Sell to open the C Jul Week One (7/1) 50 Put for around $3.90
  • Set your initial credit limit at $0.15, but adjust as needed to roll today

New Net Debit: $14.99

Expiration: After the close on Friday, July 1

Potential Rate of Return: I am targeting breakeven for this position

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