I am recommending we roll our Kroger Co. (KR), Pfizer (PFE) and Walgreens Boots Alliance (WBA) puts out one week to buy time and generate more income.
Pfizer is expected to report earnings next week. Currently, the plan is to hold through the announcement. However, depending on market conditions, there’s a chance we will temporarily close the position before earnings and trade it again after.
KR Feb Week One (2/4) 48 Put
Current Stock Price: $44.88
Cash in Hand: $0.77
Action:
- Buy to close the KR Feb Week One (2/4) 48 Put for around $3.15
- Sell to open the KR Feb Week Two (2/11) 48 Put for around $3.22
- Set initial credit limit at $0.07, but adjust as needed to roll today
New Cash in Hand: $0.84
PFE Feb Week One (2/4) 55.50 Put
Current Stock Price: $53.60
Cash in Hand: $2.13
Action:
- Buy to close the PFE Feb Week One (2/4) 55.50 Put for around $1.98
- Sell to open the PFE Feb Week Two (2/11) 55.50 Put for around $2.66
- Set initial credit limit at $0.68, but adjust as needed to roll today
New Cash in Hand: $2.81
WBA Feb Week One (2/4) 53 Put
Current Stock Price: $50.28
Cash in Hand: $0.73
Action:
- Buy to close the WBA Feb Week One (2/4) 53 Put for around $2.77
- Sell to open the WBA Feb Week Two (2/11) 53 Put for around $2.84
- Set initial credit limit at $0.07, but adjust as needed to roll today
New Cash in Hand: $0.80