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Income Madness Trade Alert: PFE

We accepted shares of Pfizer (PFE) last week. I am recommending a call to sell to reduce our cost basis on the position.

If you are not currently in the PFE position, you can enter one today via a buy-write. To do so, you must first buy 100 shares of the stock for every call you plan to sell. However, please note that we will only be tracking and managing based on the ongoing position, which will have a significantly higher cost basis.

Current Stock Price: $46.20

Cost Basis: $51.29

Action: Sell to open the PFE Sep Monthly (9/16) 47 Call for around $0.59, but adjust as needed to sell a call today

New Cost Basis: $50.70

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