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Income Madness Trade Alert: PFE, TSM, WBA

We have positions in Pfizer (PFE), Taiwan Semiconductor Manufacturing (TSM) and Walgreens Boots Alliance (WBA) expiring today.

PFE sold off this week despite the fact that the World Health Organization endorsed the use of the company’s oral Covid-19 antiviral treatment in high-risk patients after data confirmed it drastically cut hospitalization risk. The stock seems to be getting hit by news of Johnson & Johnson (JNJ) lowering its 2022 Covid-19 vaccine sales forecast, citing a global surplus.

PFE is radically undervalued. Let’s accept shares and we will sell a call against them soon to generate more income.

Our TSM put is in the money and we are on track to be assigned shares. This was the plan when we sold a close-to-the-money put this week, as I believe we can get back to breakeven faster by selling calls than puts.

Our WBA call is on track to expire worthless, though the stock could end up closing above the call’s strike. If it does, our shares will be called away and we will sell a put to reduce our net debit on the position. However, if the call expires worthless, I will recommend another call to sell soon.

PFE Apr Week Four (4/22) 54 Put

Current Stock Price: $48.14

Net Debit: $0.23

Action: Accept shares

Cost Basis: $54.23

TSM Apr Week Four (4/22) 100 Put

Current Stock Price: $96.05

Net Debit: $28.58

Action: Accept shares

Cost Basis: $128.58

WBA Apr Week Four (4/22) 46.50 Call

Current Stock Price: $46.03

Cost Basis: $49.49

Action: Watch call expire

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