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Income Masters Trade Alert: GM, QS

I am recommending we roll our expiring General Motors (GM) and QuantumScape (QS) calls.

GM Jan Monthly (1/21/22) 50/Apr Week Five (4/30) 58 Call Spread

Note: No action is needed on the GM Jan Monthly (1/21/22) 50 Call at this time.

Current Stock Price: $56.03

Cost Basis: $11.33

Action:

  • Buy to close the GM Apr Week Five (4/30) 58 Call for around $0.07
  • Sell to open the GM May Week One (5/7) 58 Call for around $0.94
  • Set initial credit limit at $0.87

New Cost Basis: $10.46

QS Apr Week Five (4/30) 40 Call

Current Stock Price: $36.50

Cost Basis: $42.23

Action:

  • Buy to close the QS Apr Week Five (4/30) 40 Call for around $0.10
  • Sell to open the QS May Week One (5/7) 40 Call for around $0.75
  • Set initial credit limit at $0.65

New Cost Basis: $41.58

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