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Income Masters Trade Alert: AAPL, CHWY, GM, QS

I am recommending we roll our expiring calls in Apple (AAPL), General Motors (GM) and QuantumScape (QS).

I am also recommending a call to sell against our uncovered Chewy (CHWY) shares. If you are not currently in the position, you can enter it now. Just be sure to buy 100 shares of the underlying stock for every call you plan to sell, and note that we will be tracking and managing it based on the ongoing position.

AAPL Jan Monthly (1/21/22) 100/May Week Four (5/28) 130 Call Spread

Note: No action is needed on our AAPL Jan Monthly (1/21/22) 100 Call at this time.

Current Stock Price: $127.08

Cost Basis: $33.20

Action:

  • Buy to close the AAPL May Week Four (5/28) 130 Call for around $0.05
  • Sell to open the AAPL Jun Week One (6/4) 129 Call for around $0.64
  • Set initial credit limit at $0.59

New Cost Basis: $32.61

CHWY Uncovered Shares

Current Stock Price: $74.48

Cost Basis: $81.37

Action: Sell to open the CHWY Jun Week One (6/4) 75 Call for around $1.80

New Cost Basis: $79.57

GM Jan Monthly (1/21/22) 50/May Week Four (5/28) 57 Call Spread

Note: No action is needed on our GM Jan Monthly (1/21/22) 50 Call at this time.

Current Stock Price: $60.20

Cost Basis: $8.93

Action:

  • Buy to close the GM May Week Four (5/28) 57 Call for around $3.23
  • Sell to open the GM Jun Week Two (6/11) 58 Call for around $2.94
  • Set initial debit limit at $0.29

New Cost Basis: $9.22

QS May Week Four (5/28) 30 Call

Current Stock Price: $25.57

Cost Basis: $38.65

Action:

  • Buy to close the QS May Week Four (5/28) 30 Call for around $0.04
  • Sell to open the QS Jun Week One (6/4) 28 Call for around $0.50
  • Set initial credit limit at $0.46

New Cost Basis: $38.19

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