I am recommending we roll our General Motors (GM), QuantumScape (QS) and Invesco Solar ETF (TAN) calls out one week to generate cash.
GM Jan Monthly (1/21/22) 50/May Week Two (5/14) 58 Call Spread
Note: No action is needed on our GM Jan Monthly (1/21/22) 50 Call at this time.
Current Stock Price: $55.32
Cost Basis: $9.93
Action:
- Buy to close the GM May Week Two (5/14) 58 Call for around $0.06
- Sell to open the GM May Monthly (5/21) 57 Call for around $0.60
- Set initial credit limit at $0.54
New Cost Basis: $9.39
QS May Week Two (5/14) 30 Call
Current Stock Price: $27.98
Cost Basis: $40
Action:
- Buy to close the QS May Week Two (5/14) 30 Call for around $0.23
- Sell to open the QS May Monthly (5/21) 30 Call for around $0.93
- Set initial credit limit at $0.70
New Cost Basis: $39.30
TAN May Week Two (5/14) 73 Call
Current Stock Price: $70.77
Cost Basis: $83.85
Action:
- Buy to close the TAN May Week Two (5/14) 73 Call for around $0.20
- Sell to open the TAN May Monthly (5/21) 73 Call for around $1.10
- Set initial credit limit at $0.90
New Cost Basis: $82.95