I am recommending we roll the short leg of our VanEck Vectors Semiconductor ETF (SMH) LEAP call spread out one week to generate more income.
Note: No action is needed on the SMH Jan 2023 (1/20/23) 250 Call at this time.
Current Stock Price: $237.05
Cost Basis: $53.93 (Note that the cost basis was incorrectly listed at $53.84 in the previous alert.)
- Buy to close the SMH May Monthly (5/20) 250 Call for around $0.27
- Sell to open the SMH May Week Four (5/27) 250 Call for around $1.80
- Set initial credit limit at $1.53, but adjust as needed to roll today
New Cost Basis: $52.40