The current run-up in the market is challenging several of our open call positions. However, the market is starting to look overbought with a number of stocks running up against technical resistance. We are getting a bit of a pullback this morning and we’ll look at rolling our Friday expiration call positions over the next few days.


Let’s roll two of our put positions today.




Cardinal Health (CAH):  75.05


Cardinal Health stock price has been on a steady rise peaking last week at over $81 per share and even though the price has re-traced, it’s up again today.


The ex-dividend date isn’t until the end of December so we have plenty of time to keep rolling our puts.


ACTION: Roll CAH 18 Nov 75 put to the 2 Dec 75 put for a net credit of around 0.80 to 0.85 and a 1% return

Buy to close CAH 18 Nov 75 put

Sell to open CAH 2 Dec 75 put




Gilead Sciences (GILD):  82.75


As we mentioned before, “Gilead the growth stock” is back for now. Our 11 Nov 78 put is only worth a few cents. Gilead goes ex-dividend on 12/14 so we have a few more weeks of rolling our puts before we need to buy the stock.


ACTION:  Roll the GILD 18 Nov 78 put to the GILD 2 Dec 80 put for a net credit of around 0.60 to 0.65 and a 0.8% return

Buy to close GILD 18 Nov 78 put

Sell to open CAH 2 Dec 80 put

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