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Income Masters Trade Alert: SBUX, WSM

I am recommending we roll our Starbucks (SBUX) put out two weeks to bring in more income and reduce our net debit.

Our Williams-Sonoma (WSM) shares are on track to be called away after a sharp move higher. Of course, this came after a sharp drop that prompted us to roll our call strike down 10 points.

Being called out at $105 instead of $115 falls somewhere between frustrating and infuriating. But as I always preach, there is no such thing as a foregone profit.

Considering we are exiting with a profit on a position that was well underwater at one point, I consider this a win.

SBUX Jan Monthly (1/15) 103 Put

Current Stock Price: $102.14

Net Debit: $4.03

Action:

  • Buy to close the SBUX Jan Monthly (1/15) 103 Put for around $0.95
  • Sell to open the SBUX Jan Week Five (1/29) 103 Put for around $3.10
  • Set initial credit limit at $2.15

New Net Debit: $1.88

WSM Jan Monthly (1/15) 105 Call

Current Stock Price: $122.77

Cost Basis: $103.05

Action: Allow shares to be called away

Profit: $1.95, or $195 per 100 shares

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