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Income Madness Trade Alert: PFE

We sat out Pfizer’s (PFE) earnings announcement to avoid any undue risk.

The stock sold off despite the company delivering a second-quarter revenue and earnings beat. Revenue was up 47% year over year and profits increased 78% from a year ago on strong sales of Pfizer’s COVID-19 vaccine and antiviral treatment Paxlovid.

With PFE off its lows from this morning, it’s time to sell a put to reduce our net debit on the position.

You can enter today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it based on the ongoing position.

Current Stock Price: $50.73

Current Net Debit: $2.96

Action: Sell to open the PFE Aug Week One (8/5) 50 Put for around $0.57, but adjust as needed to sell a put today

New Net Debit: $2.39

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