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Income Madness Trade Alert: AMD, TSM

I am recommending we roll the short leg of our Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) LEAP call spreads out two weeks and to lower strike prices to generate more income and reduce our cost basis on the positions.

3 AMD Jan 2023 (1/20/23) 70/Sep Week Five (9/30) 82 Calls
AMD Sep Week Five (9/30) 60 Puts

Note: No action is needed on the AMD Jan 2023 (1/20/23) 70 Calls or AMD Sep Week Five (9/30) 60 Puts at this time.

Current Stock Price: $64.67

Cost Basis: $104.20

Action:

  • Buy to close 3 AMD Sep Week Five (9/30) 82 Calls for around $0.01 each ($0.03 total)
  • Sell to open 3 AMD Oct Week Two (10/14) 70 Call for around $1.23 each ($3.69 total)
  • Set initial credit limit at $1.22 each ($3.66 total), but adjust as needed as roll today

New Cost Basis: $100.54

4 TSM Jan 2023 (1/20/23) 70/Sep Week Five (9/30) 81 Calls
TSM Sep Week Five (9/30) 70 Puts

Note: No action is needed on the TSM Jan 2023 (1/20/23) 70 Calls or TSM Sep Week Five (9/30) 70 Puts at this time.

Current Stock Price: $69.34

Cost Basis: $107.27

Action:

  • Buy to close 4 TSM Sep Week Five (9/30) 81 Calls for around $0.01 each ($0.04 total)
  • Sell to open 4 TSM Oct Week Two (10/14) 73 Calls for around $1.23 each ($4.92 total)
  • Set initial credit limit at $1.22 each ($4.88 total), but adjust as needed as roll today

New Cost Basis: $102.39

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