With the market trading lower today, we have one Perpetual Income position we can manage.

ROLL
Cardinal Health (CAH): 85.75

Cardinal Health continues to be one of our strongest-performing stocks despite the market chop and uncertainty surrounding the debt ceiling. The stock has support at the 85 level and continues in a strong upward pattern. Let’s roll our put out one week and collect a solid premium.

ACTION: Roll the CAH 19 May 79 put to the CAH 26 May 85 put for a net credit of around 0.65 to 0.70.

Buy to close the CAH 19 May 79 put
Sell to open the CAH 26 May 85 put