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Income Madness Trade Alert: DIS

Walt Disney (DIS) is rallying today on news CEO Bob Chapek has stepped down and, in a surprise twist, will be replaced by former CEO Bob Iger. Iger will head the company for the next two years during the search for a new successor.

As you know, I was not a fan of Chapek’s management, and I think Iger’s return will be a positive for the company and the stock.

I am recommending a call to sell against our uncovered shares to generate income and reduce our cost basis on the position.

Current Stock Price: $97.70

Cost Basis: $127.19

Action: Sell to open the DIS Dec Week Two (12/9) 100 Call for around $1.92, but adjust as needed to sell a call today

New Cost Basis: $125.27

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