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Income Masters Trade Alert: SMH

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.)

Action:

  • 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

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