Ticker: SMH
Price: $154.77
Date: 6/16/23 1:15 pm EST
Underlying: Vaneck Semiconductor ETF

Est. Net Credit/Debit: $4000+ credit after all trade detail

Master Portfolio Contracts: 7

Notes: SMH has run up with the broader market.  Our current call calendar is centered so we’re going to roll that strike, but we’re going to close the put spread because it’s too far out of the money to roll. 

TRADE ACTION 1: Close put spread for a credit of around 3.08 – 3.15

STC SMH 18 AUG 145 put
BTC SMH 16 JUN 145 put

TRADE ACTION2: Roll the calls for a credit of around 1.60 – 1.70
BTC SMH 16 JUN 155 call
STO SMH 23 JUN 155 call

POSITION AFTER TRADE DETAIL:

+7 SMH 18 AUG 150 call
-7 SMH 23 JUN 155 call