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
- 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
- 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