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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 Week Four (1/28) 300 Call Spread

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

Current Stock Price: $251.40

Cost Basis: $67.58

Action:

  • Buy to close the SMH Jan Week Four (1/28) 300 Call for around $0.02
  • Sell to open the SMH Feb Week One (2/4) 275 Call for around $0.70
  • Set initial credit limit at $0.68, but adjust as needed to roll today

New Cost Basis: $66.90

TGT Jan 2023 (1/20/23) 200/Jan Week Four (1/28) 235 Call Spread

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

Current Stock Price: $211.17

Cost Basis: $60.35 (Note that the cost basis was incorrectly listed at $60.84 in the previous alert.)

Action:

  • Buy to close the TGT Jan Week Four (1/28) 235 Call for around $0.01
  • Sell to open the TGT Feb Week One (2/4) 220 Call for around $1.25
  • Set initial credit limit at $1.24, but adjust as needed to roll today

New Cost Basis: $59.11

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