TRADE ROLL

CF Industries (CF):  93.55

Let’s use the rally today in inflation beneficiary stocks to roll our CF 17 Jun 96 put down and out to give us some room along with more credit. Fertilizer prices have dropped lately but there is still outsized demand for fertilizer products that will benefit stocks like CF. We want to stay in this trade for the foreseeable future. 

ACTION:  Roll the CF 17 Jun 96 put to the CF 1 Jul 95 put for a net credit of around 1.30 to 1.40

Buy to close CF 17 Jun 96 put

Sell to open CF 1 Jul 95 put