The short legs of our Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) LEAP call recovery positions expired worthless last week. I am recommending new calls to sell today to reduce our cost basis on the positions.
3 AMD Jan 2023 (1/20/23) 70 Calls
Current Stock Price: $78.73
Cost Basis: $112.24
Action: Sell to open 3 AMD Sep Monthly (9/16) 82.50 Calls for around $1.18 each ($3.54 total), but adjust as needed to sell them today
New Cost Basis: $108.70
4 TSM Jan 2023 (1/20/23) 70 Calls
Current Stock Price: $79.46
Cost Basis: $116.23
Action: Sell to open 4 TSM Sep Monthly (9/16) 82 Calls for around $0.72 each ($2.88 total), but adjust as needed to sell them today
New Cost Basis: $113.35