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Income Masters Trade Alert: BBY, MU, XBI

I am recommending we roll our Best Buy (BBY), Micron Technology (MU) and SPDR S&P Biotech ETF (XBI) calls out two weeks to generate more income and, in the case of BBY and XBI, capture more potential appreciation.

BBY Apr Week Five (4/29) 94 Call

Current Stock Price: $93.22

Cost Basis: $97.85

Action:

  • Buy to close the BBY Apr Week Five (4/29) 94 Call for around $0.81
  • Sell to open the BBY May Week Two (5/13) 98 Call for around $1.46
  • Set initial credit limit at $0.65, but adjust as needed to roll today

New Cost Basis: $97.20

MU Apr Week Five (4/29) 69 Call

Note: No action is needed on the MU Apr Week Five (4/29) 65/60 Put Spread at this time.

Current Stock Price: $67.72

Cost Basis: $74.97

Action:

  • Buy to close the MU Apr Week Five (4/29) 69 Call for around $0.51
  • Sell to open the MU May Week Two (5/13) 69 Call for around $2.45
  • Set initial credit limit at $1.94, but adjust as needed to roll today

New Cost Basis: $73.03

XBI Apr Week Five (4/29) 79 Call

Current Stock Price: $72.92

Cost Basis: $96.47

Action:

  • Buy to close the XBI Apr Week Five (4/29) 79 Call for around $0.05
  • Sell to open the XBI May Week Two (5/13) 80 Call for around $0.88
  • Set initial credit limit at $0.83, but adjust as needed to roll today

New Cost Basis: $95.64

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