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Income Madness Trade Alert: WBA

Walgreens Boots Alliance (WBA) sold off following the release of its second-quarter results at the end of March despite beating on both the top and bottom lines. Management maintained its forecast for the full year, but some investors are worried that fading pandemic tail winds will negatively impact the company. Walgreens is also increasing its investments in health-care services, which it said will take some time to pay off.

 

As I’ve said before, COVID-19 isn’t going anywhere, and I believe Walgreen’s increased spending will pay off.

While the stock is up today on news India’s Reliance Industries is exploring a bid for the company’s UK-based Boots business, our WBA Apr Monthly (4/14) 47 Put is in the money. I am recommending we accept shares. We will sell a call against those shares next week, which should be a much faster path to breakeven than rolling puts.

Current Stock Price: $44.79

Net Debit: $2.79

Action: Accept shares

Cost Basis: $49.79

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