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

I am recommending we roll our Apple (AAPL), General Motors (GM), QuantumScape (QS) and Invesco Solar ETF (TAN) calls today.

I also want to roll our Chewy (CHWY) put to bring in more income.

AAPL Jan Monthly (1/21/22) 100/May Week One (5/7) 128 Call Spread

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

Current Stock Price: $129.79

Cost Basis: $34.13

Action:

  • Buy to close the AAPL May Week One (5/7) 128 Call for around $2.20
  • Sell to open the AAPL May Monthly (5/21) 130 Call for around $2.45
  • Set initial credit limit at $0.25

New Cost Basis: $33.88

CHWY May Week One (5/7) 83 Put

Current Stock Price: $77.44

Cash in Hand: $0.58

Action:

  • Buy to close the CHWY May Week One (5/7) 83 Put for around $5.70
  • Sell to open the CHWY May Monthly (5/21) 83 Put for around $6.75
  • Set initial credit limit at $1.05

New Cash in Hand: $1.63

GM Jan Monthly (1/21/22) 50/May Week One (5/7) 58 Call Spread

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

Current Stock Price: $57.42

Cost Basis: $10.46

Action:

  • Buy to close the GM May Week One (5/7) 58 Call for around $0.50
  • Sell to open the GM May Week Two (5/14) 58 Call for around $1.03
  • Set initial credit limit at $0.53

New Cost Basis: $9.93

QS May Week One (5/7) 40 Call

Current Stock Price: $33.41

Cost Basis: $41.58

Action:

  • Buy to close the QS May Week One (5/7) 40 Call for around $0.06
  • Sell to open the QS May Week Two (5/14) 40 Call for around $0.74
  • Set initial credit limit at $0.68

New Cost Basis: $40.90

TAN May Week One (5/7) 86 Call

Current Stock Price: $76.79

Cost Basis: $85.50

Action:

  • Buy to close the TAN May Week One (5/7) 86 Call for around $0.15
  • Sell to open the TAN May Week Two (5/14) 80 Call for around $0.95
  • Set initial credit limit at $0.80

New Cost Basis: $84.70

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