Kroger Co. (KR) is rallying today along with the broader market. Our call expired worthless last week, so I am recommending a new call to sell against the stock to reduce our cost basis on the position.
Note that this trade is only for members who already own shares of KR uncovered from a previous position.
Current Stock Price: $50.50
Cost Basis: $58.27
Action: Sell to open the KR Jun Week One (6/3) 51 Call for around $1, but adjust as needed to sell a call today
New Cost Basis: $57.27