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

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

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