I am recommending we roll our expiring Corning (GLW), Target (TGT) and Western Digital (WDC) calls to generate more income.
GLW Sep Week Four (9/24) 38 Call
Current Stock Price: $37.84
Cost Basis: $38.61
Action:
- Buy to close the GLW Sep Week Four (9/24) 38 Call for around $0.16
- Sell to open the GLW Oct Week One (10/1) 38 Call for around $0.42
- Set initial credit limit at $0.26
New Cost Basis: $38.35
TGT Jan 2023 (1/20/23) 200/Sep Week Four (9/24) 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: $243.85
Cost Basis: $55.85
Action:
- Buy to close the TGT Sep Week Four (9/24) 247.50 Call for around $0.26
- Sell to open the TGT Oct Week One (10/1) 247.50 Call for around $1.43
- Set initial credit limit at $1.17
New Cost Basis: $54.68
WDC Sep Week Four (9/24) 60 Call
Current Stock Price: $57.38
Cost Basis: $61.22
Action:
- Buy to close the WDC Sep Week Four (9/24) 60 Call for around $0.07
- Sell to open the WDC Oct Week One (10/1) 58 Call for around $1.13
- Set initial credit limit at $1.06
New Cost Basis: $60.16