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OIB Trade Alert: CVS, INTC, MU

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

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