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Income Masters Trade Alert: BBY, CVS, MU, XBI

I am recommending we roll our Best Buy (BBY), CVS Health (CVS), Micron Technology (MU) and SPDR S&P Biotech ETF (XBI) positions out one week to generate more income and/or reduce our cost basis.

BBY Apr Week One (4/1) 100 Call

Current Stock Price: $90.33

Cost Basis: $100.90

Action:

  • Buy to close the BBY Apr Week One (4/1) 100 Call for around $0.01
  • Sell to open the BBY Apr Week Two (4/8) 95 Call for around $0.40
  • Set initial credit limit at $0.39, but adjust as needed to roll today

New Cost Basis: $100.51

CVS Apr Week One (4/1) 103 Put

Current Stock Price: $101.50

Cash in Hand: $0.54

Action:

  • Buy to close the CVS Apr Week One (4/1) 103 Put for around $1.54
  • Sell to open the CVS Apr Week Two (4/8) 103 Put for around $2.15
  • Set initial credit limit at $0.61, but adjust as needed to roll today

New Cash in Hand: $1.15

MU Apr Week One (4/1) 79 Put

Current Stock Price: $76.16

Cash in Hand: $0.45

Action:

  • Buy to close the MU Apr Week One (4/1) 79 Put for around $3
  • Sell to open the MU Apr Week Two (4/8) 79 Put for around $3.90
  • Set initial credit limit at $0.90, but adjust as needed to roll today

New Cash in Hand: $1.35

XBI Apr Week One (4/1) 92 Call

Current Stock Price: $91.35

Cost Basis: $101.57

Action:

  • Buy to close the XBI Apr Week One (4/1) 92 Call for around $0.33
  • Sell to open the XBI Apr Week Two (4/8) 92 Call for around $1.84
  • Set initial credit limit at $1.51, but adjust as needed to roll today

New Cost Basis: $100.06

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