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OIB Trade Alert: GM

General Motors (GM) is scheduled to announce earnings on Oct. 25. I believe decent sales and inventory data have already been priced in. Therefore, I do not want to hold a position through earnings.

Our GM Oct Monthly (10/21) 34 Call is trading right around the strike price of our call. If the stock closes above $34, our shares will be called away. If not, the call will expire worthless, and we will sell our shares on Monday. In either case, we will re-enter this core stock by selling a put after the earnings dust settles.

Current Stock Price: $33.88

Cost Basis: $46.96

Action: Watch call expire

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

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