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Income Masters Trade Alert: TGT

Target (TGT) delivered an excellent earnings report and strong outlook, causing shares to pop more than 10%. I am recommending we roll the short leg of our LEAP call spread to capture more potential appreciation.

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

Current Stock Price: $222.50

Cost Basis: $52.26

Action:

  • Buy to close the TGT Mar Week One (3/4) 215 Call for around $9.80
  • Sell to open the TGT Mar Monthly (3/18) 220 Call for around $9
  • Set initial debit limit at $0.80, but adjust as needed to roll today

New Cost Basis: $53.06

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