I am recommending we roll our Teladoc Health (TDOC) put to a higher strike while keeping the expiration date the same to reduce our net debit on the position.
You can enter today’s trade even if you were not in the previous one by selling the second leg. Just be aware that we will be managing and tracking it based on the ongoing position.
Current Stock Price: $33.03
Net Debit: $0.47
- Buy to close the TDOC Jul Week One (7/1) 25 Put for around $0.13
- Sell to open the TDOC Jul Week One (7/1) 28 Put for around $0.36
- Set your initial credit limit at $0.23, but adjust as needed to roll today
New Net Debit: $0.24
Expiration: After the close on Friday, July 1
Potential Rate of Return: I am targeting breakeven for this position