Our VanEck Vectors Semiconductor ETF (SMH) and Target (TGT) protective puts are on track to expire worthless. We will simply watch them do so.
We were able to pocket some profits on the puts by rolling, which helped to reduce our cost basis on the positions. Depending on how the market behaves, we may continue to hedge them with new puts.
SMH Jan 2023 (1/20/23) 250 Call
Current Stock Price: $189.40
Cost Basis: $46.21
Action: Watch the SMH Sep Week Five (9/30) 180 Put expire worthless
TGT Jan 2024 Monthly (1/19/24) 150/ Oct Week Two (10/14) 160 Call Spread
Current Stock Price: $151.04
Cost Basis: $45.23
Action: Watch the TGT Sep Week Five (9/30) 145 Put expire worthless