Let’s roll our Chewy (CHWY) put position out one week to generate more cash.
I am also recommending we roll our Marvell Technology Group (MRVL) call to a lower strike, further reducing our cost basis.
CHWY Feb Week Two (2/12) 105 Put
Current Stock Price: $110.67
Cash in Hand: $0.79
Action:
- Buy to close the CHWY Feb Week Two (2/12) 105 Put for around $0.21
- Sell to open the CHWY Feb Monthly (2/19) 105 Put for around $1.51
- Set initial credit limit at $1.30, but adjust as needed to roll today
New Cash in Hand: $2.09
MRVL Feb Week Two (2/12) 51.50 Call
Current Stock Price: $51.44
Cost Basis: $50.78
Action:
- Buy to close the MRVL Feb Week Two (2/12) 51.50 Call for around $0.49
- Sell to open the MRVL Feb Monthly (2/19) 51 Call for around $1.50
- Set your initial credit limit at 1.01, but adjust as needed to roll today
New Cost Basis: $49.77