I am recommending we roll our CVS Health (CVS), Intel (INTC) and Micron Technology (MU) calls.
CVS Oct Week One (10/2) 57 Call
Current Stock Price: $57.54
Cost Basis: $62.02 (Note that the cost basis was incorrectly listed as $61.93 in the previous alert.)
Action:
- Buy to close the CVS Oct Week One (10/2) 57 Call for around $0.79
- Sell to open the CVS Oct Monthly (10/16) 58 Call for around $1.14
- Set your initial credit limit at $0.35, but adjust as needed to roll today
New Cost Basis: $61.67
Expiration: After the close on Friday, Oct.16
Potential Rate of Return: I am targeting breakeven for this position
INTC Oct Week One (10/2) 50 Call
Current Stock Price: $52.14
Cost Basis: $58.08
Action:
- Buy to close the INTC Oct Week One (10/2) 50 Call for around $2.18
- Sell to open the INTC Oct Monthly (10/16) 50.50 Call for around $2.19
- Set your initial credit limit at $0.01, but adjust as needed to roll today
New Cost Basis: $58.07
Expiration: After the close on Friday, Oct. 16
Potential Rate of Return: I am targeting breakeven for this position
MU Oct Week One (10/2) 48 Call
Current Stock Price: $47.65
Cost Basis: $51.59
Action:
- Buy to close the MU Oct Week One (10/2) 48 Call for around $0.31
- Sell to open the MU Oct Monthly (10/16) 50 Call for around $0.69
- Set your initial credit limit at $0.38, but adjust as needed to roll today
New Cost Basis: $51.21
Expiration: After the close on Friday, Oct. 16
Potential Rate of Return: I am targeting breakeven for this position