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Income Madness Trade Alert: WBA

Walgreens Boots Alliance (WBA) reported better-than-expected revenue and earnings this week. Management also reiterated its full-year forecast of adjusted-earnings-per-share growth in the low single digits, citing increased retail and online sales.

However, revenue and net income fell on a year-over-year basis, due in part to falling COVID-19 vaccination demand and large investments in its health care business.

The stock is down around 7% since the announcement but appears to have stabilized around the strike price of the protective put we purchased. Let’s close the put now now, reducing our cost basis on the position slightly.

Note: No action is needed on the WBA Jul Week Two (7/8) 42 Call at this time.

Current Stock Price: $37.83

Cost Basis: $46.68

Action: Sell to close the WBA Jul Week One (7/1) 38 Put for around $0,33, but adjust as needed to close today

New Cost Basis: $46.35

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