Roku (ROKU) is bucking the market sell-off today, which is a good sign. But the short leg of our spread is still in the money and there is a considerable value in the long leg. So, I am recommending we roll both legs down today.
Note that no action is needed on our ROKU Feb Week Four (2/28) 115 Put at this time. I will send a separate alert regarding that trade tomorrow.
Current Stock Price: $113.46
Cash in Hand: $0.40
- Buy to close the ROKU Feb Week Four (2/28) 115 Put for around $3.10
- Sell to close the ROKU Feb Week Four (2/28) 110 Put for around $1.15
- Set initial debit limit at $1.95
- Sell to open the ROKU Mar Week One (3/6) 100 Put for around $1.50
- Buy to open the ROKU Mar Week One (3/6) 95 Put for around $0.90
- Set initial credit limit at $0.60
Net Debit: $0.95