Hello Investors,
Today we removed the long puts (protective puts) on our GILD stock position. This will convert our trade from a debit of 0.90 to a credit of 0.65 overall. We still have the short calls which we may decide to “roll-up” in strike price. However, while a move below 57.50/share is less likely through Feb. A move below 60.00/share is still very possible. If that happens, then we will make a little credit and retain our stock.
Sold to close: GILD Feb 19th (monthly) 57.50 strike puts
Credit: 1.55
Have a great week!