I am recommending a call to sell against our Target (TGT) LEAP to generate income and reduce our cost basis on the position.
Note: No action is needed on the TGT Jan 2024 Monthly (1/19/24) 150 Call at this time.
Current Stock Price: $169.61
Cost Basis: $50.30
Action: Sell to open the TGT Sep Monthly (9/16) 175 Call for around $1.25, but adjust as needed to sell a call today
New Cost Basis: $49.05