I am recommending we roll all of our expiring Perpetual Income Portfolio Club positions.
We will be rolling the Apple (AAPL) and Chewy (CHWY) calls out one to two weeks and to higher strikes. While we will incur a net debit to do so, we will be capturing more potential appreciation.
If you not currently in the AAPL and/or CHWY positions, please do not enter them at this time. I will alert you when it is time to put new money to work
We are rolling our Starbucks (SBUX) put out one week and to a higher strike to generate more income. If you are not currently in the position, you can enter it now by selling the March 19 put.
Note that no action is needed on the Corning (GLW) Mar Monthly (3/19) 40 Put at this time. And since we are managing all of our expiring positions today, I will not be sending a PIPC Update tomorrow.
AAPL Mar Week Two (3/12) 120 Call
Current Stock Price: $121.85
- Buy to close the AAPL Mar Week Two (3/12) 120 Call for around $2.23
- Sell to open the AAPL Mar Week Four (3/26) 125 Call for around $2.03
- Set your initial debit limit at $0.20, but adjust as needed to roll today
CHWY Mar Week Two (3/12) 85 Call
Current Stock Price: $86.60
- Buy to close the CHWY Mar Week Two (3/12) 85 Call for around $2.46
- Sell to open the CHWY Mar Monthly (3/19) 90 Call for around $2.29
- Set your initial debit limit at $0.17, but adjust as needed to roll today
SBUX Mar Week Two (3/12) 105 Put
Current Stock Price: $108.42
- Buy to close the SBUX Mar Week Two (3/12) 105 Put for around $0.06
- Sell to open the SBUX Mar Monthly (3/19) 107 Put for around $1.05
- Set your initial credit limit at $0.99, but adjust as needed to roll today
Disclosure: I have positions or trade in and out of AAPL, CHWY, GLW and SBUX.