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Income Masters Trade Alert: AMAT, DHI, SBUX, XBI

I am recommending we roll our Applied Materials (AMAT) and Starbucks (SBUX) puts out one week to buy time.

Let’s accept shares of D.R. Horton (DHI). I will recommend a call to sell against them soon.

Finally, I want to close our SPDR S&P Biotech ETF (XBI) put at a small profit.

AMAT Oct Week Two (10/8) 130 Put

Current Stock Price: $127.31

Cash in Hand: $2.52

Action:

  • Buy to close the AMAT Oct Week Two (10/8) 130 Put for around $2.70
  • Sell to open the AMAT Oct Monthly (10/15) 130 Put for around $3.75
  • Set initial credit limit at $1.05, but adjust as needed to roll today

New Cash in Hand: $3.57

DHI Oct Week Two (10/8) 88 Put

Current Stock Price: $83.38

Cash in Hand: $1.41

Action: Accept shares

Cost Basis $86.59

SBUX Oct Week Two (10/8) 114 Put

Current Stock Price: $112.20

Cash in Hand: $1.47

Action:

  • Buy to close the SBUX Oct Week Two (10/8) 114 Put for around $1.84
  • Sell to open the SBUX Oct Monthly (10/15) 114 Put for around $2.25
  • Set initial credit limit at $0.41, but adjust as needed to roll today

New Cash in Hand: $1.88

XBI Oct Week Two (10/8) 125 Put

Current Stock Price: $123.81

Cash in Hand: $1.36

Action: Buy to close the XBI Oct Week Two (10/8) 125 Put for around $1.28, but adjust as needed to close today

Profit: $0.08, or $8 per contract

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