Moderna (MRNA) is up more than 8% today on two pieces of good news. First, the FDA authorized its COVID-19 booster for children ages 6-17. Second, the company is partnering with Merck (MRK) to develop a personalized cancer vaccine based on messenger RNA technology.
I am recommending we roll our call out one week to generate a big chunk of cash and reduce our cost basis on the position.
Current Stock Price: $131.07
Cost Basis: $166.21
- Buy to close the MRNA Oct Week Two (10/14) 135 Call for around $2.28
- Sell to open the MRNA Oct Monthly (10/21) 135 Call for around $37
- Set initial credit limit at $2.09, but adjust as needed to roll today
New Cost Basis: $164.12