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Income Masters Trade Alert: GLW, KBH, KRE

We are currently on track to have our Corning (GLW) shares called away at a loss. I am recommending we do so and move on. The stock has been difficult to trade lately, and the company is scheduled to report earnings this month.

I am also recommending we roll our KB Home (KBH) call to generate more income.

Finally, the SPDR S&P Regional Banking ETF (KRE) has moved up quickly and I do not want to chase it. We managed to turn a large paper loss into a small profit using an active recovery strategy.

GLW Oct Monthly (10/15) 37 Call

Current Stock Price: $38.03

Cost Basis: $37.71

Action: Allow shares to be called away

Loss: $0.71, or $71 per 100 shares

KBH Oct Monthly (10/15) 42 Call

Current Stock Price: $40.58

Cost Basis: $43.58

Action:

  • Buy to close the KBH Oct Monthly (10/15) 42 Call for around $0.05
  • Sell to open the KBH Nov Monthly (11/19) 42 Call for around $0.75
  • Set your initial credit limit at $0.70, but adjust as needed to roll today

New Cost Basis: $42.88

KRE Oct Monthly (10/15) 66 Call

Current Stock Price: $70.58

Cost Basis: $65.48

Action: Allow shares to be called away

Profit: $0.52, or $52 per contract

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