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OIB Trade Alert: BAC, CHWY

I am recommending we roll our Bank of America (BAC) put out one week to avoid assignment and bring in more income.

Our Chewy (CHWY) put is on track to expire worthless, but I want to roll out one week to bring in a big chunk of cash.

BAC Jan Week Four (1/22) 32.50 Put

Current Stock Price: $31.87

Cash in Hand: $0.30

Action:

  • Buy to close the BAC Jan Week Four (1/22) 32.50 Put for around $0.69
  • Sell to open the BAC Jan Week Five (1/29) 32.50 Put for around $0.94
  • Set your initial credit limit at $0.25, but adjust as needed to roll today

New Cash in Hand: $0.55

Expiration: After the close on Friday, Jan. 29

Potential Rate of Return: 1.7% in 11 days, or 56% on an annualized basis

CHWY Jan Week Four (1/22) 100 Put

Current Stock Price: $105.56

Cash in Hand: $0.86

Action:

  • Buy to close the CHWY Jan Week Four (1/22) 100 Put for around $0.27
  • Sell to open the CHWY Jan Week Five (1/29) 100 Put for around $1.63
  • Set your initial credit limit at $1.36, but adjust as needed to roll today

New Cash in Hand: $2.22

Expiration: After the close on Friday, Jan. 29

Potential Rate of Return: 2.2% in 11 days, or 74% on an annualized basis

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