I am recommending we roll our Intel (INTC) call out two weeks and to a higher strike. If we are called away, we will have a breakeven trade after digging ourselves out of a big hole.
Current Stock Price: $51.74
Cost Basis: $52.90
Action:
- Buy to close the INTC Jan Week Two (1/8) 50.50 Call for around $1.25
- Sell to open the INTC Jan Week Four (1/22) 52.50 Call for around $1.75
- Set your initial limit order at $0.50, but adjust as needed to roll today
New Cost Basis: $52.40
Expiration: After the close on Friday, Jan. 22
Potential Rate of Return: I am targeting breakeven for this position