... but for accurate illustration let us suppose that aapl is plunging to around 650 & gob decides he's going to ratchet down his 695 put strike price.
a series of credit spreads stretches before him. Even rolling as briefly as into october 650P (note the drop in strike price) will net him 2.50 credit, or 250.00. He'll get to keep all accumulated profit to date, his margin will continue looking good, he can continue trading, plus he won't be assigned.
the farther out in time gob might go with 650P (i'm using 650s because they have elevated open interests), the bigger the credit spread that he would collect.