Rolling our CVNA put contracts 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 May 20th $140 Puts
- Buy (to open) the CVNA May 20th $120 Puts
- Limit: CREDIT of $16.50 or more
- New position will represent roughly 8.2% of our Spec Model capital
- 10:12 Executed
- Sold CVNA May 20th $140 Puts @ $43.35
- Bot CVNA May 20th $120 Puts @ $26.35
- Net Credit: $17.00