Let’s roll our Corning (GLW) put out one week to buy ourselves some more time and bring in more income.
Current Stock Price: $43.72
Cash in Hand: $0.50
Action:
- Buy to close the GLW May Monthly (5/21) 44 Put for around $0.36
- Sell to open the GLW May Week Four (5/28) 44 Put for around $0.84
- Set your initial credit limit at $0.48, but adjust as needed to roll today
New Cash in Hand: $0.98
Expiration: After the close on Friday, May 28
Potential Rate of Return: 2.2% in 11 days, or 74% annualized, if this option expires worthless