I am recommending we roll our Best Buy (BBY), Micron Technology (MU), VanEck Vectors Semiconductor ETF (SMH) and SPDR S&P Biotech ETF (XBI) calls that expire this week.
BBY Jun Week Two (6/10) 81 Call
Current Stock Price: $77.97
Cost Basis: $95.72
Action:
- Buy to close the BBY Jun Week Two (6/10) 81 Call for around $0.28
- Sell to open the BBY Jun Monthly (6/17) 80 Call for around $1
- Set initial credit limit at $0.72, but adjust as needed to roll today
New Cost Basis: $95
MU Jun Week Two (6/17) 74 Call
Note: No action is needed on the MU Jun Monthly (6/17) 70 Put at this time.
Current Stock Price: $68.98
Cost Basis: $73.63
Action:
- Buy to close the MU Jun Week Two (6/17) 74 Call for around $0.06
- Sell to open the MU Jun Monthly (6/17) 72 Call for around $0.77
- Set initial credit limit at $0.71, but adjust as needed to roll today
New Cost Basis: $72.92
SMH Jan 2023 (1/20/23) 250/Jun Week Two (6/10) 250 Call Spread
Note: No action is needed on the SMH Jan 2023 (1/20/23) 250 Call at this time.
Current Stock Price: $239.71
Cost Basis: $51.48
Action:
- Buy to close the SMH Jun Week Two (6/10) 250 Call for around $0.35
- Sell to open the SMH Jun Week Four (6/24) 245 Call for around $4.80
- Set initial credit limit at $4.45, but adjust as needed to roll today
New Cost Basis: $47.03
XBI Jun Week Two (6/10) 70 Call
Current Stock Price: $73.87
Cost Basis: $91.91
Action:
- Buy to close the XBI Jun Week Two (6/10) 70 Call for around $4.25
- Sell to open the XBI Jun Monthly (6/17) 70 Call for around $4.95
- Set initial credit limit at $0.70, but adjust as needed to roll today
New Cost Basis: $91.21