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Income Madness Trade Alert: AMD, TSM

The chip sector has found a short-term bottom, and the calls we sold on Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) are in the money.

I am recommending we roll out a few weeks and to higher strike prices to avoid being called out and to capture more potential appreciation.

AMD Jan 2023 (1/20/23) 70/AMD Nov Monthly (11/18) 70 Call Spread

Note: No action is needed on the AMD Jan 2023 (1/20/23) 70 Calls at this time.

Current Stock Price: $73.61

Cost Basis: $99.04

Action:

  • Buy to close 3 AMD Nov Monthly (11/18) 70 Calls for around $4.50 each ($13.50 total)
  • Sell to open 3 AMD Dec Week Two (12/9) 73 Calls for around $4.60 each ($13.80 total)
  • Set initial credit limit at $0.10 ($0.30 total), but adjust as needed to roll today

New Cost Basis: $98.74

TSM Jan 2023 (1/20/23) 70/Nov Monthly (11/18) 70 Spread

Note: No action is needed on the TSM Jan 2023 (1/20/23) 70 Calls at this time.

Current Stock Price: $73.12

Cost Basis: $98.03

Action:

  • Buy to close 4 TSM Nov Monthly (11/18) 70 Calls for around $3.55 each ($14.20 total)
  • Sell to open 4 TSM Dec Week Two (12/9) 72 Calls for around $3.45 each ($13.80 total)
  • Set initial debit limit at $0.10 ($0.40 total), but adjust as needed to roll today

New Cost Basis: $98.43

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