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Income Madness Trade Alert: AMD, TSM, WBA

Our Advanced Micro Devices (AMD) put is deep in the money, but given the terrific premiums, I am recommending we roll our put out one week. The income we generate will help reduce the sizeable net debit we have on the position.

I am also recommending we roll our Taiwan Semiconductor Manufacturing (TSM) and Walgreens Boots Alliance (WBA) calls to generate more income and reduce our cost basis on the positions.

AMD May Week Four (5/27) 102 Put

Current Stock Price: $98.95

Net Debit: $21.84

Action:

  • Buy to close the AMD May Week Four (5/27) 102 Put for around $3.55
  • Sell to open the AMD Jun Week One (6/3) 102 Put for around $5.05
  • Set initial credit limit at $1.50, but adjust as needed to roll today

New Net Debit: $20.34

TSM May Week Four (5/27) 95 Call

Current Stock Price: $90.58

Cost Basis: $125.63

Action:

  • Buy to close the TSM May Week Four (5/27) 95 Call for around $0.03
  • Sell to open the TSM Jun Week One (6/3) 92.50 Call for around $0.93
  • Set initial credit limit at $0.90, but adjust as needed to roll today

New Cost Basis: $124.73

WBA May Week Four (5/27) 46 Call

Current Stock Price: $43.17

Cost Basis: $48.29

Action:

  • Buy to close the WBA May Week Four (5/27) 46 Call for around $0.02
  • Sell to open the WBA Jun Week One (6/3) 44 Call for around $0.35
  • Set initial credit limit at $0.33, but adjust as needed to roll today

New Cost Basis: $47.96

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