I am recommending we roll our Advanced Micro Devices (AMD), Micron Technology (MU) and Starbucks (SBUX) positions.
AMD Feb Week One (2/5) 92.50 Call
Current Stock Price: $87.32
Cost Basis: $87.84
Action:
- Buy to close the AMD Feb Week One (2/5) 92.50 Call for around $0.05
- Sell to open the AMD Feb Week Two (2/12) 90 Call for around $1.07
- Set initial credit limit at $1.02
New Cost Basis: $86.82
MU Feb Week One (2/5) 82.50 Put
Current Stock Price: $80.12
Cash in Hand: $2.67
Action:
- Buy to close the MU Feb Week One (2/5) 82.50 Put for around $2.55
- Sell to open the MU Feb Monthly (2/19) 82.50 Put for around $3.95
- Set initial credit limit at $1.40
New Cash in Hand: $4.07
SBUX Feb Week One (2/5) 103 Put
Current Stock Price: $103.53
Net Debit: $1.33
Action:
- Buy to close the SBUX Feb Week One (2/5) 103 Put for around $0.41
- Sell to open the SBUX Feb Monthly (2/19) 103 Put for around $1.89
- Set initial credit limit at $1.48
New Cash in Hand: $0.15