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Income Masters Trade Alert: QS, TGT

I am recommending we close our QuantumScape (QS) and Target (TGT) positions.

As I said last week, QS has sold off sharply since we initiated the position in early April, and I do not expect a recovery in this speculative stock in the foreseeable future. Therefore, I am recommending we sell our shares at a loss and find a better use for the capital we have tied up.

Our TGT call spread, on the other hand, has worked out very well. We will book a big profit for a return of around 9% in just nine days.

QS Uncovered Shares

Current Stock Price: $23.85

Cost Basis: $34.34

Action: Sell shares at market

Loss: $10.49, or $1,049 per 100 shares

TGT Mar Monthly (3/18) 200/Jul Monthly (7/16) 252.50 Call Spread

Current Stock Price: $252.90

Cost Basis: $50.77

Action:

  • Buy to close the TGT Jul Monthly (7/16) 252.50 Call for around $1.30
  • Sell to close the TGT Mar Monthly (3/18) 200 Call for around $56.70

Profit: $4.63, or $463 per spread

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