I am recommending we roll our Ford (F) call out one week to generate more income and reduce our cost basis on the position.
Current Stock Price: $18.13
Cost Basis: $24.21
- Buy to close the F Feb Monthly (2/18) 18 Call for around $0.28
- Sell to open the F Feb Week Four (2/25) 18 Call for around $0.61
- Set initial credit limit at $0.33, but adjust as needed to roll today
New Cost Basis: $23.88