Rolling our CVNA put contract to a lower strike price.
This lets us lock in profits, frees up cash for new trades, and reduces our capital at risk.
- Sell (to close) the CVNA March 18th $170 Puts
- Buy (to open) the CVNA March 18th $155 Puts
- Limit: CREDIT of $12.00 or more
- New position will represent roughly 7.1% of our Spec Model Capital
~~~~~~~~ - 15:24 Executed
- Sold CVNA March 18th $170 Puts @ $45.74
- Bot CVNA March 18th $155 Puts @ $33.34
- Net Credit: $12.40