Rolling our MARA puts to a lower strike price and new expiration date.
Shares of Marathon Digital (MARA) have pulled back during this turbulent market period. Lower crypto prices reduces the potential profits MARA’s Bitcoin mining operations can make.
With that said, we’re well overdue for a rebound in cryptocurrencies along with speculative assets. And that could drive shares of MARA sharply higher.
Our May put contracts are set to expire on Friday. So we’ll be closing these put contracts ahead of expiration.
At the same time, we’re going to be rolling out a NEW income play for MARA using a lower strike price. This creates more of a buffer helping to protect your wealth while giving us more income from this stock.
We’re buying back our original MARA put contracts at a loss. But our second position should help to offset that loss and put us back on the road to growing your profits.
- Buy (to close) our MARA May 20th $20 puts
- Sell (to open) three MARA June 17th $10 puts
- Limit: Net DEBIT of $8.10 or less
- The new position will represent roughly 3.4% of our model.
~~~~~~~ - 13:22 Executed
- Bot MARA May 20th $20 Puts @ $9.50
- Sold MARA June 17th $10 Puts @ $1.45
- Net Debit: $8.05
*NOTE: If you don’t have a position in MARA, simply sell the NEW put contracts to enter the trade. I recommend a limit of $1.45 or more for selling the new put contracts.
- Sell (to open) three MARA June 17th $10 puts
- Limit: $1.45 or more