Apple (AAPL) has run up more than 10% in just over a week and our call is deep in the money.
I am recommending we roll it out two weeks and to a higher strike price to avoid having our shares called away. While we will be spending a bit of cash to do so, we will pick up $3 per share in potential appreciation.
Current Stock Price: $150.75
Cost Basis: $153.16
- Buy to close the AAPL Nov Monthly (11/18) 145 Call for around $5.85
- Sell to open the AAPL Dec Week Two (12/9) 148 Call for around $5.50
- Set initial debit limit at $0.35, but adjust as needed to roll today
New Cost Basis: $153.51