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