Apple (AAPL) is trading well above the strike price of our call. I am recommending we roll out two weeks and to a higher strike to capture another $2 in potential appreciation.
Note that the company is expected to report earnings on April 28, and we will likely be holding this position through the announcement.
Current Stock Price: $132.27
Cost Basis: $128.23
- Buy to close the AAPL Apr Week Four (4/23) 126 Call for around $6.35
- Sell to open the AAPL May Week One (5/7) 128 Call for around $6.45
- Set your initial credit limit at $0.10, but adjust as needed to roll today
New Cost Basis: $128.13
Potential Rate of Return: I am targeting breakeven for this position