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Income Masters Trade Alert: QS, TAN

I am recommending we roll our QuantumScape (QS) and Invesco Solar ETF (TAN) calls down to reduce our cost basis on the positions. Note that we are keeping the expiration dates the same.

QS May Week Two (5/14) 40 Call

Current Stock Price: $28

Cost Basis: $40.90

Action:

  • Buy to close the QS May Week Two (5/14) 40 Call for around $0.07
  • Sell to open the QS May Week Two (5/14) 30 Call for around $0.97
  • Set initial credit limit at $0.90, but adjust as needed to roll today

New Cost Basis: $40

TAN May Week Two (5/14) 80 Call

Current Stock Price: $71.69

Cost Basis: $84.70

Action:

  • Buy to close the TAN May Week Two (5/14) 80 Call for around $0.10
  • Sell to open the TAN May Week Two (5/14) 73 Call for around $0.95
  • Set initial credit limit at $0.85, but adjust as needed to roll today

New Cost Basis: $83.85

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