PYPL’ s share price has been strong. I decided to move up the put side of the iron condor in the same month in order to collect additional premium and to minimize the damage if the share price continues to rise.
Bought PYPL 01/15/21 Put 175.00 @ 0.97
Bought PYPL 01/15/21 Put 210.00 @ 7.38
Sold PYPL 01/15/21 Put 165.00 @ 0.57
Sold PYPL 01/15/21 Put 220.00 @ 11.78
An additional 4.00 was collected by making this adjustment. The new position is
PYPL Jan 210P/-220P/-220C/230C for a credit of 7.20.