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Income Madness Trade Alert: AMD, TSM, WBA

We have a modest profit on our Advanced Micro Devices (AMD), Taiwan Semiconductor Manufacturing (TSM) and Walgreens Boots Alliance (WBA) protective puts.

I am recommending we roll them out one week and to lower strikes. This will allow us to pocket some cash while keeping our hedge in place, which could pay off handsomely if the market continues to sell off sharply over the next few days.

AMD Jun Monthly (6/17) 82.50 Put

Note: No action is needed on the AMD Jun Monthly (6/17) 100 Put at this time.

Current Stock Price: $83.24

Net Debit: $18.56

Action:

  • Sell to close the AMD Jun Monthly (6/17) 82.50 Put for around $1.35
  • Buy to open the AMD Jun Week Four (6/24) 75 Put for around $0.86
  • Set initial credit limit at $0.49, but adjust as needed to roll today

New Net Debit: $18.07

TSM Jun Monthly (6/17) 85 Put 

Note: No action is needed on the TSM Jun Monthly (6/17) 93 Call at this time.

Current Stock Price: $84.70

Cost Basis: $124.29

Action:

  • Sell to close the TSM Jun Monthly (6/17) 85 Put for around $1.23
  • Buy to open the TSM Jun Week Four (6/24) 80 Put for around $0.66
  • Set initial credit limit at $0.57, but adjust as needed to roll today

New Cost Basis: $123.72

WBA Jun Monthly (6/17) 40 Put

Note: No action is needed on the WBA Jun Monthly (6/17) 43 Call at this time.

Current Stock Price: $39.81

Cost Basis: $47.40

Action:

  • Sell to close the WBA Jun Monthly (6/17) 40 Put for around $0.58
  • Buy to open the WBA Jun Week Four (6/24) 38 Put for around $0.36
  • Set initial credit limit at $0.22, but adjust as needed to roll today

New Cost Basis: $47.18

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