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Income Masters Trade Alert: CHWY, GM, XBI

I am recommending we roll our expiring positions in Chewy (CHWY), General Motors (GM) and SPDR S&P Biotech ETF (XBI).

CHWY Apr Monthly (4/16) 82 Put

Current Stock Price: $85.68

Net Debit: $2.71

Action:

  • Buy to close the CHWY Apr Monthly (4/16) 82 Put for around $0.15
  • Sell to open the CHWY Apr Week Four (4/23) 83 Put for around $1.29
  • Set initial credit limit at $1.14

New Net Debit: $1.57

GM Jan Monthly (1/21/22) 50/Apr Monthly (4/16) 61 Call Spread

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

Current Stock Price: $58.84

Cost Basis: $12.64

Action:

  • Buy to close the GM Apr Monthly (4/16) 61 Call for around $0.07
  • Sell to open the GM Apr Week Four (4/23) 60 Call for around $0.73
  • Set initial credit limit at $0.66

New Cost Basis: $11.98

XBI Apr Monthly (4/16) 135 Put

Current Stock Price: $133.87

Cash in Hand: $1.95

Action:

  • Buy to close the XBI Apr Monthly (4/16) 135 Put for around $1.87
  • Sell to open the XBI Apr Week Four (4/23) 135 Put for around $3.22
  • Set initial credit limit at $1.35

New Cash in Hand: $3.30

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