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Income Masters Trade Alert: TGT

Target (TGT) announced earnings today that were well below Wall Street’s expectations. Management also forecast single-digit revenue growth this year, as well as continued pressure on profits margins.

Target noted that fuel and freight costs will be $1 billion more than it had expected this year and said it will try not to pass the cost increases onto consumers in hopes of gaining more market share.

This strategy should benefit long-term investors, but not short-term traders, with shares down more than 25% this morning.

On the bright side, our protective put has soared in value. Let’s close it now. The profit we make will greatly reduce our cost basis on the LEAP call spread.

Note: No action is needed on the TGT Jan 2023 (1/20/23) 200/May Week Four (5/27) 230 Call Spread at this time.

Current Stock Price: $159.80

Cost Basis: $50.88

Action: Sell to close the TGT May Monthly (5/20) 195 Put for around $35.75, but adjust as needed to close today

New Cost Basis: $15.13

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