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OIB Trade Alert: GM, PFE

I am recommending we roll our General Motors (GM) call and Pfizer (PFE) put out one week to generate more income.

GM Aug Week Two (8/13) 55 Call

Current Stock Price: $54.51

Cost Basis: $56.64

Action:

  • Buy to close the GM Aug Week Two (8/13) 55 Call for around $0.21
  • Sell to open the GM Aug Monthly (8/20) 55 Call for around $0.69
  • Set your initial credit limit at $0.48, but adjust as needed to roll today

New Cost Basis: $56.16

Expiration: After the close on Friday, Aug. 20

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

PFE Aug Week Two (8/13) 47 Put

Current Stock Price: $46.80

Cash in Hand: $0.43

Action:

  • Buy to close the PFE Aug Week Two (8/13) 47 Put for around $0.54
  • Sell to open the PFE Aug Monthly (8/20) 47 Put for around $0.95
  • Set your initial credit limit at $0.41, but adjust as needed to roll today

New Cash in Hand: $0.84

Expiration: After the close on Friday, Aug. 20

Rate of Return: 1.8% in 11 days, or 59% annualized, if this option expires worthless

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