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OIB Trade Alert: BAC, ICLN, MLHR, SCHW

Below are the trades I recommended in today’s Options Income Blueprint Live Trading Session. You can watch a recording of the session on the member website this afternoon.

Note that option prices may have moved since the Live Trading Session. Please do not chase the trades by accepting less premium than the “go as low as” price recommended below. Work your limit orders but exercise patience and let the trades come to you.

Bank of America (BAC)

Current Stock Price: $39.73

Action: Sell to open the BAC Apr Week Five (4/30) 40 Put

Current Option Price: $0.54-$0.56

Recommended Limit: Set your initial limit order at $0.55. You can go as low as $0.49, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, April 30

Potential Rate of Return: 1.4% in four days, or 125% on an annualized basis, if this option expires worthless

iShares Global Clean Energy ETF (ICLN)

Current Stock Price: $24.60

Action: Sell to open the ICLN Apr Week Five (4/30) 24.50 Put

Current Option Price: $0.25-$0.40

Recommended Limit: Set your initial limit order at $0.30. You can go as low as $0.20, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, April 30

Potential Rate of Return: 1.2% in four days, or 112% on an annualized basis, if this option expires worthless

Herman Miller (MLHR)

Current Stock Price: $41.52

Action: Sell to open the MLHR May Monthly (5/21) 40 Put

Current Option Price: $0.85-$0.90

Recommended Limit: Set your initial limit order at $0.85. You can go as low as $0.75, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, May 21

Potential Rate of Return: 2.1% in 25 days, or 31% on an annualized basis, if this option expires worthless

Charles Schwab (SCHW)

Current Stock Price: $68.77

Action:

  • Buy 100 shares at market
  • Sell to open the SCHW May Monthly (5/21) 70 Call for around $1.41

Cost Basis: $67.36

Expiration: After the close on Friday, May 21

Potential Rate of Return: 2.1% in 25 days, or 30% on an annualized basis, if shares are called away

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