I am recommending we roll our expiring calls in SPDR S&P Regional Banking ETF (KRE), Target (TGT) and Western Digital (WDC).
KRE Aug Week Four (8/27) 64 Call
Current Stock Price: $66.15
Cost Basis: $65.99
Action:
- Buy to close the KRE Aug Week Four (8/27) 64 Call for around $2.17
- Sell to open the KRE Sep Week Two (9/10) 65 Call for around $1.98
- Set initial debit limit at $0.19
New Cost Basis: $66.18
TGT Jan 2023 (1/20/23) 200/Aug Week Four (8/27) 255 Call Spread
Note: No action is needed on the TGT Jan 2023 (1/20/23) 200 Call at this time.
Current Stock Price: $248.81
Cost Basis: $59.10
Action:
- Buy to close the TGT Aug Week Four (8/27) 255 Call for around $0.02
- Sell to open the TGT Sep Week Two (9/10) 255 Call for around $1.19
- Set initial credit limit at $1.17
New Cost Basis: $57.93
WDC Aug Week Four (8/27) 63 Call
Current Stock Price: $63.78
Cost Basis: $64.17
Action:
- Buy to close the WDC Aug Week Four (8/27) 63 Call for around $0.93
- Sell to open the WDC Sep Week Two (9/10) 63 Call for around $2.57
- Set initial credit limit at $1.64
New Cost Basis: $62.53