My 14 contracts $110 put expiring on 8/16 is $28 in the red if I sell the contracts now the asking price is 4 cents. I bought 13 contracts at 11 cents and one contract at 15 cents for a total cost of $70. If I roll forward to the next expiration and increased my $110 put $120 the current bid is 18 cents with an ask of 22 cents with a nine percent chance of profit what is my best options

In your situation, where you have 14 contracts on a $110 put option expiring on August 16, 2024, and you are currently $28 in the red, you have two options: to sell the options or to roll forward to a higher strike price.

1. Selling the Options:

• Intrinsic Value: $15.98 per contract (based on the current price of $125.98)
• Selling Price: $0.04 (current ask price)
• Total Proceeds: $0.56 (intrinsic value * number of contracts)
• Net Loss: $0.14 (selling price - intrinsic value)

2. Rolling Forward:

• New Strike Price: $120.00
• New Premium: $0.18 (current bid price)
• Difference in Premium: $0.14 (difference between current premium and your cost)
• Total Premium Paid: $1.24 (current premium + difference in premium)
• Maximum Loss: Limited to the premium you paid ($1.24)
• Maximum Profit: If UPS stock price is below $120.00 at the new expiration date, you can make a profit.

When deciding on the best option, consider the following:

• Market Forecast: Assess your belief in the stock price moving in a certain direction. If you believe there is a significant probability that the stock price will decrease, holding or rolling to a higher strike price might be beneficial. If you believe the stock price will remain the same or increase, selling the options could be the best option.
• Premium Consideration: When rolling, you will need to pay the difference in premiums between the new and old options. Make sure to factor this into your calculations and ensure it is manageable given your budget and risk tolerance.
• Risk Management: Be mindful of your risk tolerance and overall portfolio. Ensure that the potential losses from rolling are within your comfort zone and do not significantly impact your financial situation.

Given the current market conditions and your financial situation, rolling to a higher strike price with a new put option seems to be the best option to limit your potential loss. However, it's important to note that options trading involves risks, and past performance is not indicative of future results. Therefore, it's crucial to carefully assess the market conditions, your financial situation, and risk tolerance before making any decisions.