The Trade at a Glance
- Account Size: $100K
- Underlying Stock: CoreWeave ($CRWV)
- Strategy: Roll 1 Cash‑Secured Put
- Old Position: Apr 25 $49 Put
- New Position: May 16 $47.50 Put
- Additional Credit Collected: $35
- Total Premium To‑Date: $710 (prior $675 + $35)
- Margin Requirement: $4,750 (cash to secure 100 shares)
Key Metrics
- New Break‑Even Price: $47.50 – $7.10 = $40.40
- Obligation: Buy 100 shares of CRWV at $47.50 if assigned
Why We Rolled
- Keep the Credit Flowing – Another $35 keeps the theta machine humming, nudging total income to $710.
- Lower Strike – Dropping from $49 to $47.50 improves downside protection while staying engaged.
- Extend the Clock – Pushing expiry to May 16 buys us three more weeks for price action to cooperate.
Risk Management
- Watch CoreWeave volatility; roll again or close if we capture most of the premium early.
- Comfortable owning at an effective basis of $40.40—significant cushion below strike.
Final Thoughts
Steady, incremental rolls like this turn a single put sale into a premium‑compounding engine for our $100K portfolio.
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