Rolling our SHOP put contract to a higher strike price.
After breaking down sharply this month, SHOP has rebounded alongside the broad market. Still, the overall bearish trend is intact and given SHOP’s high valuation and speculative positioning, I expect shares to continue lower
Rolling our put contract lets us buy more intrinsic value at a discount, and sets us up for better profits when SHOP trades lower.
- Selling (to close) the SHOP March 18th $730 Put
- Buying (to open) the SHOP March 18th $800 Put
- Limit: DEBIT of $60.00 or less
- The new position will represent roughly 10.3% of our Spec Model capital
- 12:24 Executed
- Sold SHOP March 18th $730 Put @ $66.14
- Bot SHOP March 18th $800 Put @ $120.51