Rolling our SQ put contracts to a lower strike price and January expiration date.
This lets us lock in profits and keep the trade in play while giving us more time before our contracts expire.
- Sell (to close) the SQ December 17th $220 Puts
- Buy (to open) the SQ January 21st $200 Puts
- Limit: CREDIT of $9.50 or more
- The new position will represent roughly 9.7% of our Spec Model capital
- 9:47 Executed
- Sold SQ Dec 17th $220 Puts @ $27.07
- Bot SQ Jan 21st $200 Puts @ $17.32
- Net Credit: $9.75