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Income Masters Trade Alert: NKE, SMH, TGT

Our Nike (NKE) put is deep in the money, and I am recommending we accept shares. The math of selling calls makes more sense and should get us back to breakeven faster.

The company is scheduled to report earnings on Monday after the close. We will likely put a protective in place ahead of the announcement.

Our VanEck Vectors Semiconductor ETF (SMH) short call and protective put are on track to expire worthless. We will sell another call against our LEAP soon and perhaps put on another hedge.

Finally, our Target (TGT) protective put is on track to expire worthless as well.

NKE Jun Week Four (6/24) 115 Put

Current Stock Price: $109.82

Net Debit: $16.25

Action: Accept shares

Cost Basis: $131.25

SMH Jan 2023 (1/20/23) 250/Jun Week Four (6/24) 245 Call Spread
SMH Jun Week Four (6/24) 200 Put

Note: No action is needed on the SMH Jan 2023 (1/20/23) 250 Call at this time.

Current Stock Price: $213.51

Cost Basis: $50.13

Action:

  • Watch the SMH Jun Week Four (6/24) 245 Call Spread expire worthless
  • Watch the SMH Jun Week Four (6/24) 200 Put expire worthless

TGT Jun Week Four (6/24) 135 Put

Note: No action is needed on the TGT Jan 2023 (1/20/23) 200 Call at this time.

Current Stock Price: $150.34

Cost Basis: $16.51

Action: Watch the TGT Jun Week Four (6/24) 135 Put expire worthless

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