Rolling our CVNA put contracts to a lower strike price.
This lets us lock in profits, frees up cash for new trades, and reduces our capital at risk.
- Sell (to close) our 7 CVNA October 21st $45 Puts
- Buy (to open) 7 CVNA October 21st $35 Puts
- Limit: CREDIT of $8.50 or more
- New position will represent roughly 6.1% of our Spec Model capital
- Executed 11:16
- SOLD 7 CVNA Oct 21 $45 Puts @ $17.54
- BOT 7 CVNA Oct 21 $35 Puts @ $8.75
- Net CREDIT: $8.70