I am recommending we roll our Micron Technology (MU) and Nike (NKE) calls to generate more income and reduce our cost basis on the positions.
MU Jul Week Two (7/8) 60 Call
Current Stock Price: $58.39
Cost Basis: $68.95/$72.40
Action:
- Buy to close the MU Jul Week Two (7/8) 60 Call for around $0.12
- Sell to open the MU Jul Monthly (7/15) 60 Call for around $0.82
- Set initial credit limit at $0.70, but adjust as needed to roll today
New Cost Basis: $68.25/$71.70
NKE Jul Week Two (7/8) 115 Call
Current Stock Price: $106.66
Cost Basis: $128.75
Action:
- Buy to close the NKE Jul Week Two (7/8) 115 Call for around $0.01
- Sell to open the NKE Jul Monthly (7/15) 107 Call for around $2.12
- Set initial credit limit at $2.11, but adjust as needed to roll today
New Cost Basis: $126.64