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Income Masters Trade Alert: KRE, CHWY, QS, TAN

I am recommending we sell a call against our uncovered SPDR S&P Regional Banking ETF (KRE) shares.

I also want to roll our Chewy (CHWY) put and QuantumScape (QS) call.

Finally, our Invesco Solar ETF (TAN) call is deep in the money. I believe the ETF is overbought, but I am recommending we take a loss on the current position and move on.

KRE Uncovered Shares

Current Stock Price: $65.95

Cost Basis: $69.70

Action: Sell to open the KRE Jul Monthly (7/16) 68 Call for around $0.55 

New Cost Basis: $68.15

CHWY Jul Week One (7/2) 80 Put

Current Stock Price: $79.75

Net Debit: $0.24

Action:

  • Buy to close the CHWY Jul Week One (7/2) 80 Put for around $0.99
  • Sell to open the CHWY Jul Week Two (7/9) 78.50 Put for around $1.40
  • Set initial credit limit at $0.41

New Cash in Hand: $0.17

QS Jul Week One (7/2) 29 Call

Current Stock Price: $28.50

Cost Basis: $35.10

Action:

  • Buy to close the QS Jul Week One (7/2) 29 Call for around $0.18
  • Sell to open the QS Jul Week Two (7/9) 29.50 Call for around $0.94
  • Set initial credit limit at $0.76

New Cost Basis: $34.34

TAN Jul Week One (7/2) 77 Call

Current Stock Price: $88.01

Cost Basis: $83.30

Action: Allow shares to be called away

Loss: $6.30

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