I am recommending we roll our Micron Technology (MU) and VanEck Vectors Semiconductor ETF (SMH) calls to reduce our cost basis on the positions.
MU Aug Monthly (8/19) 64 Call
Current Stock Price: $62.84
Cost Basis: $67.88/$71.33
Action:
- Buy to close the MU Aug Monthly (8/19) 64 Call for around $0.17
- Sell to open the MU Aug Week Four (8/26) 64 Call for around $0.87
- Set initial credit limit at $0.70, but adjust as needed to roll today
New Cost Basis: $67.18/70.63
SMH Jan 2023 (1/20/23) 250/Aug Monthly (8/19) 250 Call Spread
Note: No action is needed on the SMH Jan 2023 (1/20/23) 250 Call at this time.
Current Stock Price: $241.93
Cost Basis: $49.62
Action:
- Buy to close the SMH Aug Monthly (8/19) 250 Call for around $0.15
- Sell to open the SMH Sep Week One (9/2) 250 Call for around $3.02
- Set initial credit limit at $2.87, but adjust as needed to roll today
New Cost Basis: $46.75