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Income Masters Trade Alert: SBUX, TGT

I am recommending we roll our Starbucks (SBUX) put to buy more time and generate additional income.

Let’s also spend some cash to roll our expiring Target (TGT) call up to a higher price to capture more potential appreciation.

SBUX Oct Monthly (10/15) 114 Put

Current Stock Price: $112.42

Cash in Hand: $1.88

Action:

  • Buy to close the SBUX Oct Monthly (10/15) 114 Put for around $1.70
  • Sell to open the SBUX Oct Week Four (10/22) 114 Put for around $2.14
  • Set your initial credit limit at $0.44, but adjust as needed to roll today

New Cash in Hand: $2.32

TGT Jan 2023 (1/20/23) 200/Oct Monthly (10/15) 235 Call Spread

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

Current Stock Price: $241.51

Cost Basis: $52.92

Action:

  • Buy to close the TGT Oct Monthly (10/15) 235 Call for around $6.65
  • Sell to open the TGT Oct Week Five (10/29) 240 Call for around $4.40
  • Set initial debit limit at $2.25, but adjust as needed to roll today

New Cost Basis: $55.17

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