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OIB Trade Alert: GM, WBA

General Motors (GM) sold off early this week, stabilized and then got hit again when the broader market fell sharply on Thursday. It is bouncing back today due to a bullish analyst recommendation that said the company should be valued as an electric vehicle stock rather than a traditional automaker.

I am recommending we roll our put to the same strike for next week.

I am also recommending we roll our Walgreens Boots Alliance (WBA) put out one week to buy ourselves some time for shares to move higher and to bring in additional income.

GM Jul Week Two (7/9) 60 Put

Current Stock Price: $58.14

Cash in Hand: $1.59

Action:

  • Buy to close the GM Jul Week Two (7/9) 60 Put for around $1.83
  • Sell to open the GM Jul Monthly (7/16) 60 Put for around $2.19
  • Set your initial credit limit at $0.36, but adjust as needed to roll today

New Cash in Hand: $1.95

Expiration: After the close on Friday, July 16

Potential Rate of Return: 3.3% in 18 days, or 66% annualized, if this option expires worthless

WBA Jul Week Two (7/9) 47.50 Put

Current Stock Price: $47.12

Cash in Hand: $0.45

Action:

  • Buy to close the WBA Jul Week Two (7/9) 47.50 Put for around $0.44
  • Sell to open the WBA Jul Monthly (7/16) 47.50 Put for around $0.86
  • Set your initial credit limit at $0.42, but adjust as needed to roll today

New Cash in Hand: $0.87

Expiration: After the close on Friday, July 16

Potential Rate of Return: 1.8% in 11 days, or 61% annualized, if this option expires worthless

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