I am recommending we roll our Best Buy (BBY) call to generate income and reduce our cost basis on the position.
Current Stock Price: $96.16
Cost Basis: $101.52
- Buy to close the BBY Mar Week Four (3/25) 102 Call for around $0.02
- Sell to open the BBY Apr Week One (4/1) 100 Call for around $0.64
- Set initial credit limit order at $0.62, but adjust as needed to roll today
New Cost Basis: $100.90