Our Pfizer (PFE) put expired worthless last week. I am recommending a new put to generate income and reduce our net debit on the position.
You can enter today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $51.08
Net Debit: $9.78
Action: Sell to open the PFE May Monthly (5/20) 50 Put
Current Option Price: $0.25-$0.27
Recommended Limit: Set your initial order at $0.26, but adjust as needed to sell a put today
New Net Debit: $9.52
Expiration: After the close on Friday, May 20
Potential Rate of Return: I am targeting breakeven for this position