Rolling our SHOP put contract to a higher strike price.
SHOP has bounced a bit from when we initially bought our put contracts. But the speculative e-commerce stock still looks extremely vulnerable — especially if the broad market sells off.
Rolling our put contract lets us buy more intrinsic value at a discount, and sets us up for better profits when SHOP trades lower. Plus, having a bearish position for SHOP helps to balance our exposure with plenty of bullish positions already in play.