Rolling our GUSH put contract to a higher strike price.
Oil appears to be running into resistance after a spectacular rally. A pullback could be swift and send shares of GUSH sharply lower.
Rolling our put contract lets us buy more intrinsic value at a discount, and sets us up for better profits when GUSH trades lower.
- Selling (to close) the GUSH April 14th $160 Puts
- Buying (to open) the GUSH April 14th $180 Puts
- Limit: DEBIT of $15.00 or less
- The new position will represent roughly 10.8% of our Spec Model capital
~~~~~~~~ - 9:52 Executed
- Sold GUSH Apr 14th $160 Puts @ $28.28
- Bot GUSH Apr 14th $180 Puts @ $41.88
- Net Debit: $13.60