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