I am recommending we roll our expiring calls in CVS Health (CVS), SPDR S&P Regional Banking ETF (KRE), Target (TGT) and Western Digital (WDC).
CVS Sep Week Two (9/10) 85 Call
Current Stock Price: $85.68
Cost Basis: $84.34
Action:
- Buy to close the CVS Sep Week Two (9/10) 85 Call for around $0.89
- Sell to open the CVS Sep Monthly (9/17) 85 Call for around $1.36
- Set initial credit limit at $0.47
New Cost Basis: $83.87
KRE Sep Week Two (9/10) 65 Call
Current Stock Price: $64.70
Cost Basis: $66.18
Action:
- Buy to close the KRE Sep Week Two (9/10) 65 Call for around $0.23
- Sell to open the KRE Sep Monthly (9/17) 65 Call for around $0.71
- Set initial credit limit at $0.48
New Cost Basis: $65.70
TGT Jan 2023 (1/20/23) 200/Sep Week Two (9/10) 247.50 Call Spread
Note: No action is needed on the TGT Jan 2023 (1/20/23) 200 Call at this time.
Current Stock Price: $246.48
Cost Basis: $57.54
Action:
- Buy to close the TGT Sep Week Two (9/10) 247.50 Call for around $0.66
- Sell to open the TGT Sep Monthly (9/17) 250 Call for around $1.20
- Set initial credit limit at $0.54
New Cost Basis: $57
WDC Sep Week Two (9/10) 63 Call
Current Stock Price: $57.78
Cost Basis: $64.17
Action:
- Buy to close the WDC Sep Week Two (9/10) 63 Call for around $0.10
- Sell to open the WDC Sep Monthly (9/17) 60 Call for around $0.91
- Set initial credit limit at $0.81
New Cost Basis: $61.72