I am recommending we roll our Best Buy (BBY) call to generate more income, capture more potential appreciation and reduce our cost basis on the position.
Current Stock Price: $95.20
Cost Basis: $99.11
- Buy to close the BBY Apr Week Four (4/22) 95 Call for around $1
- Sell to open the BBY Apr Week Five (4/29) 96 Call for around $1.61
- Set initial credit limit order at $0.61, but adjust as needed to roll today
New Cost Basis: $98.50