I am recommending we roll our General Motors (GM) put out one week to generate more income and reduce our net debit on the position.
There was an excellent article in The New York Times this week about CEO Mary Barra and the company’s initiatives and investments in batteries and electric vehicles.
You can enter today’s trade in this core Options Income Blueprint stock, even if you were not in the previous one, by selling the second leg. Just be aware that we will be tracking and managing it based on the ongoing position.
Current Stock Price: $37.98
Net Debit: $11.37
- Buy to close the GM May Week Two (5/13) 37 Put for around $0.07
- Sell to open the GM May Monthly (5/20) 37 Put for around $0.72
- Set your initial credit limit at $0.65, but adjust as needed to roll today
New Net Debit: $10.72
Expiration: After the close on Friday, May 20
Potential Rate of Return: I am targeting breakeven for this position