I am recommending we roll our expiring call positions in Best Buy (BBY), Target (TGT) and Western Digital (WDC).
BBY Oct Week One (10/1) 110 Call
Current Stock Price: $106.44
Cost Basis: $116.04
Action:
- Buy to close the BBY Oct Week One (10/1) 110 Call for around $0.13
- Sell to open the BBY Oct Week Two (10/8) 109 Call for around $1.09
- Set initial credit limit at $0.96
New Cost Basis: $115.08
TGT Jan 2023 (1/20/23) 200/Oct Week One (10/1) 247.50 Call Spread
Note: No action is needed on the TGT Jan 2023 (1/20/23) 200 Call at this time.
Current Stock Price: $231.34
Cost Basis: $54.68
Action:
- Buy to close the TGT Oct Week One (10/1) 247.50 Call for around $0.09
- Sell to open the TGT Oct Week Two (10/8) 240 Call for around $0.71
- Set initial credit limit at $0.62
New Cost Basis: $54.06
WDC Oct Week One (10/1) 58 Call
Current Stock Price: $56.83
Cost Basis: $60.16
Action:
- Buy to close the WDC Oct Week One (10/1) 58 Call for around $0.25
- Sell to open the WDC Oct Week Two (10/8) 58 Call for around $0.85
- Set initial credit limit at $0.60
New Cost Basis: $59.56