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Income Masters Trade Alert: AAPL, MRNA, XBI

We have puts on Apple (AAPL), Moderna (MRNA) and SPDR S&P Biotech ETF (XBI) expiring today.

AAPL has sold off with the rest of the tech sector. As I said when we put on the position, the plan was to accept shares if the call was in the money heading into expiration. I will be recommending a call soon to generate income and reduce our cost basis on the position.

After an impressive run-up in Moderna, during which time we aggressively managed our put position to flip our net debit to cash in hand, the stock reversed lower. Our put is now deep in the money, which is especially frustrating after coming so close to being able to close the position at a small profit.

MRNA rallied Thursday following news the Food and Drug Administration granted emergency use authorization (EUA) for Moderna’s omicron booster shots for U.S. adults, which target the most common COVID-19 strains. Canada also approved Moderna’s omicron booster vaccine. And the Centers for Disease Control and Prevention endorsed the booster, saying a winter surge could be mitigated if enough Americans get vaccinated.

I am recommending we accept shares of MRNA. We will sell a call against them soon to generate income and reduce our cost basis on the position. The hope is to capture potential appreciation in addition to income if shares continue to move higher.

Finally, our XBI put is on track to expire worthless. We will simply watch it do so. I will recommend a new put soon to reduce our net debit on the position.

AAPL Sep Week One (9/2) 165 Put

Current Stock Price: $160.29

Cash in Hand: $2.03

Action: Accept shares

Cost Basis: $162.97

MRNA Sep Week One (9/2) 172.50 Put

Current Stock Price: $140.68

Cash in Hand: $0.34

Action: Accept shares

Cost Basis: $172.16

XBI Sep Week One (9/2) 82 Put

Current Stock Price: $86.33

Net Debit: $9.20

Action: Watch put expire worthless

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