I am recommending we roll the short leg of our Target (TGT) LEAP call spread to avoid being called out and 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: $234.16
Cost Basis: $49.67
- Buy to close the TGT Apr Week Four (4/22) 225 Call for around $9.55
- Sell to open the TGT May Week One (5/6) 230 Call for around $8.95
- Set initial debit limit at $0.60, but adjust as needed to roll today
New Cost Basis: $50.27