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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/Feb Week One (2/4) 275 Call Spread

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

Current Stock Price: $278.56

Cost Basis: $66.90

Action:

  • Buy to close the SMH Feb Week One (2/4) 275 Call for around $5.35
  • Sell to open the SMH Feb Week Two (2/11) 280 Call for around $5.50
  • Set initial credit limit at $0.15, but adjust as needed to roll today

New Cost Basis: $66.75

TGT Jan 2023 (1/20/23) 200/Feb Week One (2/4) 220 Call Spread

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

Current Stock Price: $218.13

Cost Basis: $59.11

Action:

  • Buy to close the TGT Feb Week One (2/4) 220 Call for around $0.97
  • Sell to open the TGT Feb Week Two (2/11) 220 Call for around $2.89
  • Set initial credit limit at $1.92, but adjust as needed to roll today

New Cost Basis: $57.19

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