We closed our Teladoc Health (TDOC) put ahead of the Federal Reserve meeting, which turned out to be the right move. I am recommending a new put to sell today. The income we generate will reduce our net debit on the position.
However, 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: $28.86
Net Debit: $1.34
Action: Sell to open the TDOC Jul Week One (7/1) 25 Put
Current Option Price: $0.83-$0.92
Recommended Limit: Set your initial limit order at $0.87, but adjust as needed to sell a put today
New Net Debit: $0.47
Expiration: After the close on Friday, July 1
Rate of Return: I am targeting breakeven for this position