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Income Masters Trade Alert: SMH, TGT

I am recommending we roll the short legs of our VanEck Vectors Semiconductor ETF (SMH) and Target (TGT) LEAP call spreads.

SMH Jan 2023 (1/20/23) 250/Jan Monthly (1/21) 310 Call Spread

Note: No action is needed on the SMH Jan 2023 (1/20/23) 250 Call at this time.

Current Stock Price: $288.30

Cost Basis: $69.90

Action:

  • Buy to close the SMH Jan Monthly (1/21) 310 Call for around $0.07
  • Sell to open the SMH Jan Week Four (1/28) 300 Call for around $2.39
  • Set initial credit limit at $2.32, but adjust as needed to roll today

New Cost Basis: $67.58

TGT Jan 2023 (1/20/23) 200/Jan Monthly (1/21) 235 Call Spread

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

Current Stock Price: $226.34

Cost Basis: $61.16 (Note that the cost basis was incorrectly listed at $62.10 in the previous alert.)

Action:

  • Buy to close the TGT Jan Monthly (1/21) 235 Call for around $0.17
  • Sell to open the TGT Jan Week Four (1/28) 235 Call for around $0.98
  • Set initial credit limit at $0.81, but adjust as needed to roll today

New Cost Basis: $60.35

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