I am recommending we close our Ford (F) position. While I still like the company, I think it will take too long to get back to breakeven with this stock.
Therefore, we will book the loss and turn our attention to making back the lost income through other positions during Income Madness Week and then with Income Masters positions.
I recommend you keep track of the loss you book today and count future income against your capital loss. Our primary goal will be to make back this loss (and other losses on recently closed positions). Once we have recouped the loss, you then start counting profits as new income.
And let’s watch our Taiwan Semiconductor Manufacturing (TSM) call expire worthless. Earnings are scheduled for April 14. I plan to recommend selling shares before then and re-entering the position after the announcement.
F Apr Week Two (4/8) 17 Call
Current Stock Price: $15.33
Cost Basis: $22.69
- Buy to close the F Apr Week Two (4/8) 17 Call for around $0.01, but adjust as needed to close today
- Sell shares at market
Loss: $7.37, or $737 per 100 shares
TSM Apr Week Two (4/8) 109 Call
Current Stock Price: $100.17
Cost Basis: $131.51
Action: Watch call expire worthless