I am recommending calls to sell on our uncovered shares of Best Buy (BBY), Nike (NKE) and SPDR S&P Biotech ETF (XBI) to reduce our cost basis on the positions.
Note that these trades are only for members who already own shares from previous positions.
BBY Uncovered Shares
Current Stock Price: $82.81
Cost Basis: $97.20
Action: Sell to open the BBY May Monthly (5/20) 85 Call for around $0.76, but adjust as needed to sell a call today
New Cost Basis: $96.44
NKE Uncovered Shares
Current Stock Price: $113.24
Cost Basis: $130.14
Action: Sell to open the NKE May Week Four (5/27) 118 Call for around $1.04, but adjust as needed to sell a call today
New Cost Basis: $129.10
XBI Uncovered Shares
Current Stock Price: $70.07
Cost Basis: $95.64
Action: Sell to open the XBI May Week Four (5/27) 72.50 Call for around $1.79, but adjust as needed to sell a call today
New Cost Basis: $93.85