Our Best Buy (BBY) and First Solar (FSLR) calls are in the money and on track to be called away following big moves up in the stocks this week.
I will either recommend a Best Buy put to sell next week or initiate a LEAP call recovery strategy, using the $7,000 in capital we receive from selling the shares.
First Solar is scheduled to report earnings on July 28. We will sell a put after the announcement, taking advantage of still-elevated volatility levels.
BBY Jul Week Four (7/22) 70 Call
Current Stock Price: $79.25
Cost Basis: $92.52
Action: Allow shares to be called away
Net Debit: $22.52
FSLR Jul Week Four (7/22) 70 Call
Current Stock Price: $73.09
Cost Basis: $81.84
Action: Allow shares to be called away
Net Debit: $11.84