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Income Masters Trade Alert: GLW, KR, LULU

I am recommending we roll our Corning (GLW) and Kroger Co. (KR) puts out two weeks to generate more income.

Our Lululemon Athletica (LULU) bull put spread is on track to expire worthless. I will be recommending a new spread after Labor Day to reduce our net debit on this position as we approach breakeven.

GLW Aug Week Four (8/27) 40.50 Put

Current Stock Price: $40.47

Cash in Hand: $0.39

Action:

  • Buy to close the GLW Aug Week Four (8/27) 40.50 Put for around $0.14
  • Sell to open the GLW Sep Week Two (9/10) 41 Put for around $1.07
  • Set initial credit limit at $0.93

New Cash in Hand: $1.32

KR Aug Week Four (8/27) 46 Put

Current Stock Price: $45.35

Cash in Hand: $0.94

Action:

  • Buy to close the KR Aug Week Four (8/27) 46 Put for around $0.67
  • Sell to open the KR Sep Week Two (9/10) 46 Put for around $1.57
  • Set initial credit limit at $0.90

New Cash in Hand: $1.84

LULU Aug Week Four (8/27) 385/375 Put Spread

Current Stock Price: $405.62

Net Debit: $0.48

Action: Watch spread expire worthless

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