September 25, 2020 - MDT Alert (QRVO)

I am going to make an adjustment to the QRVO position.

If you followed the original alert from September 10th, you would still be long (2) of the October 16th - $120 Puts.

QRVO has been selling off a bit, along with the overall market.

But, the stock is still above the $120 strike price.

I am going to suggest you sell (2) of the October 16th - $110 puts.

They can be sold for $1.10 and I suggest you collect the cash.

This will reduce the original purchase by $1.10 and still allow you to collect the difference between the $120 and $110 strikes.

Of course, only sell 2 puts if you originally sold 2 of the October $120 puts.

This will turn this position into a debit spread.