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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 Jun Week One (6/3) 80 Call

Current Stock Price: $80.02

Cost Basis: $96.36

Action:

  • Buy to close the BBY Jun Week One (6/3) 80 Call for around $0.94
  • Sell to open the BBY Jun Week Two (6/10) 81 Call for around $1.58
  • Set initial credit limit at $0.64, but adjust as needed to roll today

New Cost Basis: $95.72

XBI Jun Week One (6/3) 70 Call

Current Stock Price: $67.82

Cost Basis: $92.93

Action:

  • Buy to close the XBI Jun Week One (6/3) 70 Call for around $0.26
  • Sell to open the XBI Jun Week Two (6/10) 70 Call for around $1.28
  • Set initial credit limit at $1.02, but adjust as needed to roll today

New Cost Basis: $91.91

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