While there are no Income Masters Live Trading Sessions this week, we are putting on two new positions today.
First Solar (FSLR) has been selling off since last week’s earnings report even though the company beat revenue and profit expectations. Guidance was lighter than the Street hoped, creating a great short-term put-selling opportunity for us.
I am also recommending we sell a longer-term put on footwear maker Crocs (CROX)
TRADE ONE: Sell to open the First Solar (FSLR) May Week One (5/7) 72 Put for around $1.11. You can go as low as $0.95, but please don’t start there and always use limit orders. (Current stock price: $72.77)
TRADE TWO: Sell to open the Crocs (CROX) May Monthly (5/21) 100 Put for around $3.50. You can go as low as $3, but please don’t start there and always use limit orders. (Current stock price: $101.71)