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OIB Trade Alert: GM

I am recommending we roll our General Motors (GM) put out one week to avoid potential assignment and generate more income.

Current Stock Price: $37.38

Net Debit: $10.06

Action:

  • Buy to close the GM Dec Monthly (12/16) 38 Put for around $0.76
  • Sell to open the GM Dec Week Four (12/23) 38 Put for around $1.13
  • Set your initial credit limit at $0.37, but adjust as needed to roll today

New Net Debit: $9.69

Expiration: After the close on Friday, Dec. 23

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

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