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Income Masters Trade Alert: CHWY, GM, QS, TAN

I am recommending we roll our Chewy (CHWY) put and expiring General Motors (GM), QuantumScape (QS) and Invesco Solar ETF (TAN) calls.

CHWY Apr Week Four (4/23) 83 Put

Current Stock Price: $82.04

Net Debit: $1.57

Action:

  • Buy to close the CHWY Apr Week Four (4/23) 83 Put for around $1.61
  • Sell to open the CHWY Apr Week Five (4/30) 83 Put for around $2.91
  • Set initial credit limit at $1.30

New Net Debit: $0.27

GM Jan Monthly (1/21/22) 50/Apr Week Four (4/23) 57 Call Spread

Note: No action is needed on the GM Jan Monthly (1/21/22) 50 Call at this time.

Current Stock Price: $57.26

Cost Basis: $11.55

Action:

  • Buy to close the GM Apr Week Four (4/23) 57 Call for around $0.60
  • Sell to open the GM Apr Week Five (4/30) 58 Call for around $0.82
  • Set initial credit limit at $0.22

New Cost Basis: $11.33

QS Apr Week Four (4/23) 37 Call

Current Stock Price: $34.62

Cost Basis: $42.73

Action:

  • Buy to close the QS Apr Week Four (4/23) 37 Call for around $0.20
  • Sell to open the QS Apr Week Five (4/30) 40 Call for around $0.70
  • Set initial credit limit at $0.50

New Cost Basis: $42.23

TAN Apr Week Four (4/23) 85 Call

Current Stock Price: $89.38

Cost Basis: $86.60

Action:

  • Buy to close the TAN Apr Week Four (4/23) 85 Call for around $4.40
  • Sell to open the TAN Apr Week Five (4/30) 86 Call for around $4.35
  • Set initial debit limit at $0.05

New Cost Basis: $86.65

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