I am recommending we sell a call on our uncovered Chewy (CHWY) shares.
Let’s also book profits on our Crocs (CROX) and SPDR S&P Regional Banking ETF (KRE) put positions.
CHWY Uncovered Shares
Current Stock Price: $80.49
Cost Basis: $88.66
Action: Sell to open the CHWY Mar Week Two (3/12) 85 Call for around $0.58
New Cost Basis: $88.08
CROX Mar Monthly (3/19) 80 Put
Current Stock Price: $79.94
Cash in Hand: $5.80
Action: Buy to close the CROX Mar Monthly (3/19) 80 Put for around $2.73
Profit: $3.07, or $307 per contract
KRE Mar Monthly (3/19) 66 Put
Current Stock Price: $68.73
Cash in Hand: $1.44
Action: Buy to close the KRE Mar Monthly (3/19) 66 Put for around $0.58
Profit: $0.86, or $86 per contract