Rolling our SPOT 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 SPOT May 20th $165 Puts
- Buy (to open) the SPOT May 20th $130 Puts
- Limit: CREDIT of $29.00 or more
- New position will represent roughly 5.2% of our Spec Model capital
~~~~~~ - 11:02 Executed
- Sold SPOT May 20th $165 Puts @ $49.55
- Bot SPOT May 20th $130 Puts @ $19.05
- Net Credit: $30.50