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Income Masters Trade Alert: CHWY, SBUX, WDC, XBI

I am recommending we book profits on Chewy (CHWY) and SPDR S&P Biotech ETF (XBI).

Our Starbucks (SBUX) and Western Digital (WDC) puts are in the money. Rather than roll, I am recommending we accept shares. We will sell calls against them soon.

CHWY Aug Week Two (8/13) 90 Put

Current Stock Price: $96.71

Cash in Hand: $0.75

Action: Buy to close the CHWY Aug Week Two (8/13) 90 Put for around $0.06

Profit: $0.69, or $69 per contract

SBUX Aug Week Two (8/13) 119 Put

Current Stock Price: $115.92

Cash in Hand: $2.32

Action: Accept shares

Cost Basis: $116.68

WDC Aug Week Two (8/13) 65 Put

Current Stock Price: $63.24

Cash in Hand: $0.49

Action: Accept shares

Cost Basis: $64.51

XBI Aug Week Two (8/13) 125 Put

Current Stock Price: $126.72

Cash in Hand: $0.99

Action: Buy to close the XBI Aug Week Two (8/13) 125 Put for around $0.13

Profit: $0.86, or $86 per contract

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