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OIB Trade Alert: BAC, PFE

I am recommending we roll our Bank of America (BAC) and Pfizer (PFE) puts out two weeks to generate more income and reduce our net debits on the positions.

BAC Feb Week Four (2/24) 35.50 Put

Current Stock Price: $33.92

Net Debit: $9.27

Action:

  • Buy to close the BAC Feb Week Four (2/24) 35.50 Put for around $1.60
  • Sell to open the BAC Mar Week Two (3/10) 35.50 Put for around $1.90
  • Set your initial credit limit at $0.30, but adjust as needed to roll today

New Net Debit: $8.97

Expiration: After the close on Friday, March 10

Potential Rate of Return: I am targeting breakeven for this position

PFE Feb Week Four (2/24) 43 Put

Current Stock Price: $41.55

Net Debit: $15.27

Action:

  • Buy to close the PFE Feb Week Four (2/24) 43 Put for around $1.45
  • Sell to open the PFE Mar Week Two (3/10) 43 Put for around $1.60
  • Set your initial credit limit at $0.15, but adjust as needed to roll today

New Net Debit: $15.12

Expiration: After the close on Friday, March 10

Potential Rate of Return: I am targeting breakeven for this position

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