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OIB Trade Alert: GM, BAC, DHI, INTC

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

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.

General Motors (GM)

Current Stock Price: $40.86

Action: Sell to open the GM Jan Week Two (1/8) 40 Put

Current Option Price: $0.38-$0.39

Recommended Limit: Set initial limit order at $0.38. You can go as low as $0.33, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, Jan. 8

Potential Rate of Return: 1% in four days, or 87% on an annualized basis, if this option expires worthless

Bank of America (BAC)

Note: This is an in-the-money put and we will likely be rolling this position.

Current Stock Price: $30.03

Action: Sell to open the BAC Jan Week Two (1/8) 30 Put

Current Option Price: $0.42-$0.43

Recommended Limit: Set initial limit order at $0.42. You can go as low as $0.37, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, Jan. 8

Potential Rate of Return: 1.4% in four days, or 128% on an annualized basis, if this option expires worthless

D.R. Horton (DHI)

Current Stock Price: $67.17

Action: Sell to open the DHI Jan Monthly (1/15) 65 Put

Current Option Price: $0.87-$0.92

Recommended Limit: Set initial limit order at $0.89. You can go as low as $0.80, but please don’t start there and always use limit orders.

Expiration: After the close on Friday, Jan. 15

Potential Rate of Return: 1.4% in 11 days, or 45% on an annualized basis, if this option expires worthless

INTC Uncovered Shares

Note: We currently own shares of Intel (INTC) uncovered from a previous position. If you do not own INTC shares and want to make today’s trade, be sure to purchase 100 shares of the stock first for every call you plan to sell. And be aware that we will be tracking and managing this as an ongoing position.

Current Stock Price: $49.91

Cost Basis: $53.36

Action: Sell to open the INTC Jan Week Two (1/8) 50.50 Call for around $0.46

New Cost Basis: $52.90

Expiration: After the close on Friday, Jan. 15

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

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