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OIB Trade Alert: MU

I recommended closing our Micron Technology (MU) put earlier this week to avoid earnings risk. Now that the announcement is out and the stocks is moving higher, I am recommending a new put to reduce our net debit on the position.

You can sell a put today even if you were not in the previous position. Just be aware that we will be managing and tracking it as an ongoing position.

Current Stock Price: $92.60

Net Debit: $0.43

Action: Sell to open the MU Apr Week Two (4/9) 90 Put

Current Option Price: $0.92-$1.03

Recommended Limit: Set your initial limit order at $0.97, but adjust as needed to sell a put today

New Cash in Hand: $0.54

Potential Rate of Return: 0.6% in 23 days, or 10% annualized, if this option expires worthless

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