I am recommending we roll our Pfizer (PFE) call out two weeks.
Pfizer is one of our core Options Income Blueprint stocks, which means it is a name I want to trade with great frequency.
We are underwater on the position, but I plan to continue to recommend calls to generate income and reduce our cost basis until we can exit at breakeven or with a profit.
Current Stock Price: $44
Cost Basis: $48.25
- Buy to close the PFE Sep Monthly (9/17) 45 Call for around $0.06
- Sell to open the PFE Oct Week One (10/1) 45 Call for around $0.45
- Set your initial credit limit at $0.39, but adjust as needed to roll today
New Cost Basis: $47.86
Expiration: After the close on Friday, Oct. 1
Potential Rate of Return: I am targeting breakeven for this position