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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 Two (2/11) 280 Call Spread

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

Current Stock Price: $284.11

Cost Basis: $66.75

Action:

  • Buy to close the SMH Feb Week Two (2/11) 280 Call for around $5.70
  • Sell to open the SMH Feb Week Four (2/25) 290 Call for around $4.50
  • Set initial debit limit at $1.20, but adjust as needed to roll today

New Cost Basis: $67.95

TGT Jan 2023 (1/20/23) 200/ Feb Week Two (2/11) 220 Call Spread

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

Current Stock Price: $217.06

Cost Basis: $57.19

Action:

  • Buy to close the TGT Feb Week Two (2/11) 220 Call for around $0.66
  • Sell to open the TGT Feb Monthly (2/18) 220 Call for around $1.77
  • Set initial credit limit at $1.11, but adjust as needed to roll today

New Cost Basis: $56.08

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