I am recommending we roll our expiring Best Buy (BBY), First Solar (FSLR) and Target (TGT) calls to generate more income.
BBY Mar Monthly (3/18) 102 Call
Current Stock Price: $98.92
Cost Basis: $102.27
Action:
- Buy to close the BBY Mar Monthly (3/18) 102 Call for around $0.20
- Sell to open the BBY Mar Week Four (3/25) 102 Call for around $0.95
- Set initial credit limit at $0.75, but adjust as needed to roll today
New Cost Basis: $101.52
FSLR Mar Monthly (3/18) 77.50 Call
Current Stock Price: $77.15
Cost Basis: $92.23
Action:
- Buy to close the FSLR Mar Monthly (3/18) 77.50 Call for around $0.81
- Sell to open the FSLR Apr Week One (4/1) 80 Call for around $2.02
- Set initial credit limit at $1.21, but adjust as needed to roll today
New Cost Basis: $91.02
TGT Jan 2023 (1/20/23) 200/ Mar Monthly (3/18) 220 Call Spread
Note: No action is needed on the TGT Jan 2023 (1/20/23) 200 Call at this time.
Current Stock Price: $219.01
Cost Basis: $53.06
Action:
- Buy to close the TGT Mar Monthly (3/18) 220 Call for around $1.31
- Sell to open the TGT Apr Week One (4/1) 225 Call for around $2.59
- Set initial credit limit at $1.28, but adjust as needed to roll today
New Cost Basis: $51.78