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Income Masters Trade Alert: GM, QS, TAN

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

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