Rolling our PANW call contracts to a lower strike price.
This lets us buy more intrinsic value at a discount, and sets us up for better profits when shares move in our favor.
- Selling (to close) the PANW May 20th $460 Calls
- Buying (to open) the PANW May 20th $400 Calls
- Limit: DEBIT of $45.00 or less
- The new position will represent roughly 9.3% of our Spec Model capital
- 10:13 update
- No execution yet. I’m keeping our limit price instead of adjusting.
- I’d rather not pay a higher price to roll this trade lower.
- 10:21 Executed
- Sold PANW May 20th $460 Calls @ $37.15
- Bot PANW May 20th $400 Calls @ $82.15
- Net Debit: $45.00