Pfizer (PFE) sold off with the broader market this week but is rallying today on news the FDA authorized its COVID-19 booster for children ages 5-11.
I am recommending we roll our call out one week and to a lower strike to generate more income and reduce our cost basis on the position.
Current Stock Price: $42.60
Cost Basis: $49.16
- Buy to close the PFE Oct Week Two (10/14) 45 Call for around $0.06
- Sell to open the PFE Oct Monthly (10/21) 43.50 Call for around $0.55
- Set initial credit limit at $0.49, but adjust as needed to roll today
New Cost Basis: $48.67