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Income Masters Trade Alert: CHWY, KRE, MRNA

Our Chewy (CHWY) shares are on track to be called away, which will result in a net debit on the position. I will recommend a put to sell after the company announces earnings next week.

I am recommending we roll our SPDR S&P Regional Banking ETF (KRE) put out one week. And let’s book profits on Moderna (MRNA).

CHWY Jun Week One (6/4) 75 Call

Current Stock Price: $76.40

Cost Basis: $79.57

Action: Allow shares to be called away

Net Debit: $4.57

KRE Jun Week One (6/4) 71 Put

Current Stock Price: $70.21

Cash in Hand: $0.39

Action:

  • Buy to close the KRE Jun Week One (6/4) 71 Put for around $0.79
  • Sell to open the KRE Jun Week Two (6/11) 71 Put for around $1.40
  • Set initial credit limit at $0.61

New Cash in Hand: $1

MRNA Jun Week One (6/4) 190 Put

Current Stock Price: $203.41

Cash in Hand: $0.91

Action: Buy to close the MRNA Jun Week One (6/4) 190 Put for around $0.07

Profit: $0.84, or $84 per contract

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