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Income Masters Trade Alert: AAPL, KRE

I am recommending we close the protective put we purchased on Apple (AAPL) and roll the short leg of the LEAP call spread to a lower strike.

I am also recommending a call to sell against our uncovered SPDR S&P Regional Banking ETF (KRE) shares.

AAPL Sept 2022 Call (9/16/22) 120/Aug Week One (8/6) 152.50 Call Spread
AAPL Jul Week Five (7/30) 144 Put

Note: No action is needed on the AAPL Sept 2022 Call (9/16/22) 120 Call at this time.

Current Stock Price: $145.53

Cost Basis: $34.07

Action:

  • Sell to close the AAPL Jul Week Five (7/30) 144 Put for around $0.27

 

  • Buy to close the AAPL Aug Week One (8/6) 152.50 Call for around $0.22
  • Sell to open the AAPL Aug Week One (8/6) 149 Call for around $0.64
  • Set initial credit limit at $0.42

New Cost Basis: $33.38

KRE Uncovered Shares

Current Stock Price: $63.62

Cost Basis: $68.39

Action: Sell to open the KRE Aug Week One (8/6) 64 Call for around $0.89

New Cost Basis: $67.50

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