Rolling our STZ 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 STZ June 17th $230 Calls
- Buying (to open) the STZ June 17th $210 Calls
- Limit: DEBIT of $16.00 or less
- The new position will represent roughly 11.0% of our Spec Model capital
- 10:19 Update: STZ has moved higher and no execution yet.
- We’ll keep this order open through the day.
- If STZ continues higher, that’s still good news for our existing position.
- We don’t want to pay more than 80-cents on the dollar to roll to a lower strike.
- 10:43 Executed
- Sold STZ Jun 17th $230 Calls @ $10.70
- Bot STZ Jun 17th $210 Calls @ $26.70
- Net Debit: $16.00