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Income Masters Trade Alert: BBY, XBI

I am recommending we roll our Best Buy (BBY) and SPDR S&P Biotech ETF (XBI) calls out one week to generate more income and reduce our cost basis on the positions.

BBY Apr Week Two (4/8) 95 Call

Current Stock Price: $90.47

Cost Basis: $100.51

Action:

  • Buy to close the BBY Apr Week Two (4/8) 95 Call for around $0.05
  • Sell to open the BBY Apr Monthly (4/14) 95 Call for around $0.45
  • Set initial credit limit at $0.40, but adjust as needed to roll today

New Cost Basis: $100.11

XBI Apr Week Two (4/8) 92 Call

Current Stock Price: $92.77

Cost Basis: $100.06

Action:

  • Buy to close the XBI Apr Week Two (4/8) 92 Call for around $1.70
  • Sell to open the XBI Apr Monthly (4/14) 92 Call for around $2.71
  • Set initial credit limit at $1.01, but adjust as needed to roll today

New Cost Basis: $99.05

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