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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 out two weeks.

SMH Jan 2023 (1/20/23) 250/Apr Week Two (4/8) 265 Call Spread

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

Current Stock Price: $250.78

Cost Basis: $60.55

Action:

  • Buy to close the SMH Apr Week Two (4/8) 265 Call for around $0.10
  • Sell to open the SMH Apr Week Four (4/22) 265 Call for around $2.20
  • Set initial credit limit at $2.10, but adjust as needed to roll today

New Cost Basis: $58.45

TGT Jan 2023 (1/20/23) 200/Apr Week Two (4/8) 220 Call Spread

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

Current Stock Price: $221.05

Cost Basis: $50.32

Action:

  • Buy to close the TGT Apr Week Two (4/8) 220 Call for around $2.35
  • Sell to open the TGT Apr Week Four (4/22) 225 Call for around $3
  • Set initial credit limit at $0.65, but adjust as needed to roll today

New Cost Basis: $49.67

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