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OIB Trade Alert: PFE

Pfizer (PFE) sold off this week but appears to have found a bottom at $55. I am recommending we roll our put out one week to generate more cash. This income should get us to breakeven.

Current Stock Price: $55.35

Net Debit: $0.33

 

Action:

  • Buy to close the PFE Jan Week One (1/7) 58 Put for around $2.77
  • Sell to open the PFE Jan Week Two (1/14) 58 Put for around $3.10
  • Set your initial credit limit at $0.33, but adjust as needed to roll today

Cash in Hand: $0

Expiration: After the close on Friday, Jan. 14

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

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