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.

• Selling (to close) the SHOP July 15th $400 Puts
• Buying (to open) the SHOP July 15th $430 Puts
• Limit: DEBIT of $19.50 or less
• The new position will represent roughly 11.5% of our Spec Model capital
  ~~~~~~~
• 14:04 Executed
• Sold SHOP July 15th $400 Puts @ $44.78
• Bot SHOP July 15th $430 Puts @ $63.18
• net Debit: $18.40