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