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PIPC Trade Alert: AAPL, GLW, SBUX

I am recommending we roll all three of our Perpetual Income Portfolio Club positions that expire tomorrow.

Note that Apple (AAPL), Corning (GLW) and Starbucks (SBUX) are scheduled to report earnings next week.

While we sometimes sit earnings out, we are going to hold positions through the announcements. I believe Wall Street is going to like what it hears, especially as it relates to the companies’ forecasts.

If you are not currently in a GLW position, you can enter one today by selling the Jan. 29 put. However, if you are not currently in the AAPL and/or SBUX positions, please do not enter them at this time. I will alert you when it is time to put new money to work.

No action is needed on our Chewy (CHWY) Jan Week Five (1/29) 108 Call at this time.

Note that I will not be sending a PIPC Update tomorrow, since we are managing all of our positions today.

AAPL Jan Week Four (1/22) 130 Call

Current Stock Price: $135.91

Action:

  • Buy to close the AAPL Jan Week Four (1/22) 130 Call for around $5.95
  • Sell to open the AAPL Jan Week Five (1/29) 132 Call for around $6.35
  • Set your initial credit limit at $0.40, but adjust as needed to roll today

GLW Jan Week Four (1/22) 38 Put

Current Stock Price: $38.20

Action:

  • Buy to close the GLW Jan Week Four (1/22) 38 Put for around $0.22
  • Sell to open the GLW Jan Week Five (1/29) 40 Put for around $2.25
  • Set your initial credit limit at $2.03, but adjust as needed to roll today

SBUX Jan Week Four (1/22) 103 Call

Current Stock Price: $105.01

Action:

  • Buy to close the SBUX Jan Week Four (1/22) 103 Call for around $2.10
  • Sell to open the SBUX Jan Week Five (1/29) 104 Call for around $2.95
  • Set your initial credit limit at $0.85, but adjust as needed to roll today

Disclosure: I have positions or trade in and out of AAPL, CHWY, GLW and SBUX.

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