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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/Apr Week Four (4/22) 265 Call Spread

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

Current Stock Price: $246.40

Cost Basis: $58.45

Action:

  • Buy to close the SMH Apr Week Four (4/22) 265 Call for around $0.04
  • Sell to open the SMH May Week One (5/6) 260 Call for around $2.22
  • Set initial credit limit at $2.18, but adjust as needed to roll today

New Cost Basis: $56.27

TGT Jan 2023 (1/20/23) 200/May Week One (4/8) 230 Call Spread

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

Current Stock Price: $251.51

Cost Basis: $50.27

Action:

  • Buy to close the TGT May Week One (5/6) 230 Call for around $22.40
  • Sell to open the TGT May Monthly (5/20) 232.50 Call for around $22.45
  • Set initial credit limit at $0.05, but adjust as needed to roll today

New Cost Basis: $50.22

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