I am recommending we take a loss on our Chewy (CHWY) put expiring today. With the market reacting to bad inflation news, the stock has stayed below the $40 support for too long, and it is time to move on.
Current Stock Price: $39.29
Cash in Hand: $0.38
Action: Buy to close the CHWY Feb Week Four (2/23) 40 Put
Current Option Price: $0.80-$0.84
Recommended Limit: Set your initial limit order at $0.82, but adjust as needed to close today
Loss: $0.44, or $44 per contract