I am recommending we roll our Apple (AAPL) and Chewy (CHWY) calls today.
If you are not currently in the AAPL position, please do not enter one at this time. I will alert you when it is time to put new money to work.
However, if you are not in the CHWY position, you can enter one today by selling the Feb. 12 call. Just be sure to first purchase 100 shares of the stock for every call you plan to sell to make sure your position is covered. Never sell an uncovered call.
AAPL Feb Week One (2/5) 135 Call
Current Stock Price: $137.12
Action:
- Buy to close the AAPL Feb Week One (2/5) 135 Call for around $2.17
- Sell to open the AAPL Feb Week Two (2/12) 135 Call for around $3.20
- Set your initial credit limit at $1.03, but adjust as needed to roll today
CHWY Feb Week One (2/5) 108 Call
Current Stock Price: $109.26
Action:
- Buy to close the CHWY Feb Week One (2/5) 108 Call for around $1.70
- Sell to open the CHWY Feb Week Two (2/12) 112 Call for around $2.83
- Set your initial credit limit at $1.13, but adjust as needed to roll today
And here’s where we stand with our other Perpetual Income Portfolio Club positions heading into the weekend.
GLW Feb Week One (2/5) 36.50 Call
Corning (GLW) is up around 5% this week. Our shares are on track to be called away and we will sell a put next week.
Current Stock Price: $37.56
Action: Allow shares to be called away
SBUX Feb Week One (2/5) 100 Call
Starbucks (SBUX) has been running up this week and our call is deep in the money. Our shares are on track to be called away and we will sell a put next week.
Current Stock Price: $107.39
Action: Allow shares to be called away
Disclosure: I have positions or trade in and out of AAPL, CHWY, GLW and SBUX.