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Income Masters Trade Alert: BBY, TGT, WDC

I am recommending we roll our expiring call positions in Best Buy (BBY), Target (TGT) and Western Digital (WDC) to reduce our cost basis on the positions.

BBY Oct Week Two (10/8) 109 Call

Current Stock Price: $109.09

Cost Basis: $115.08

Action:

  • Buy to close the BBY Oct Week Two (10/8) 109 Call for around $0.86
  • Sell to open the BBY Oct Monthly (10/15) 110 Call for around $1.33
  • Set initial credit limit at $0.47

New Cost Basis: $114.61

TGT Jan 2023 (1/20/23) 200/ Oct Week Two (10/8) 240 Call Spread

Note: No action is needed on the TGT Jan 2023 (1/20/23) 200 Call at this time.

Current Stock Price: $230.76

Cost Basis: $54.06

Action:

  • Buy to close the TGT Oct Week Two (10/8) 240 Call for around $0.14
  • Sell to open the TGT Oct Monthly (10/15) 235 Call for around $1.28
  • Set initial credit limit at $1.14

New Cost Basis: $52.92

WDC Oct Week Two (10/8) 58 Call

Current Stock Price: $57.55

Cost Basis: $59.56

Action:

  • Buy to close the WDC Oct Week Two (10/8) 58 Call for around $0.40
  • Sell to open the WDC Oct Monthly (10/15) 58 Call for around $1.10
  • Set initial credit limit at $0.70

New Cost Basis: $58.86

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