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OIB Trade Alert: MU

Micron Technology (MU) continues to power higher, so I am once again recommending we roll our put to a higher strike to collect more income. The premium we generate will reduce our net debit on the position as we work our way toward breakeven.

Current Stock Price: $88.51

Net Debit: $1.47

Action:

  • Buy to close the MU Dec Week One (12/3) 82 Put for around $0.14
  • Sell to open the MU Dec Week Two (12/10) 85 Put for around $1.21
  • Set your initial credit limit at $1.07, but adjust as needed to roll today

New Net Debit: $0.40

Expiration: After the close on Friday, Dec 10

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

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