I am recommending we roll our Pfizer (PFE) call out two weeks and to a lower strike price to generate more income and reduce our cost basis on the position.
Current Stock Price: $44.70
Current Cost Basis: $50.19
- Buy to close the PFE Sep Week Five (9/30) 47 Call for around $0.02
- Sell to open the PFE Oct Week Two (10/14) 45 Call for around $1.05
- Set your initial credit limit at $1.03, but adjust as needed to roll today
New Cost Basis: $49.16