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PIPC Trade Alert: AMAT, CHWY, GILD, TGT

We have four new positions this week, which I introduced in today’s Perpetual Income Portfolio Club Live Trading Session. You can watch a recording of the session here.

Our Applied Materials (AMAT) and Chewy (CHWY) puts expired worthless on Friday, so we are selling new puts on these names today.

Our Gilead Sciences (GILD) call also expired worthless and we will be selling a new call against our shares. If you are not currently in a GILD position, please do NOT enter one today. We may be looking to exit the stock soon.

Finally, our Target (TGT) shares were called away, so we are entering a new put position.

AMAT

Current Stock Price: $73.76

Action: Sell to open the AMAT Nov Week Two (11/13) 70 Put

Current Option Price: $0.63-$0.67

Recommended Limit: Set your initial limit order at $0.65

CHWY

Current Stock Price: $62.20

Action: Sell to open the CHWY Nov Week Two (11/13) 62 Put

Current Option Price: $1.82-$2

Recommended Limit: Set your initial limit order at $1.91

GILD Uncovered Shares

Current Stock Price: $59.62

Action: Sell to open the GILD Nov Week Two (11/13) 59.50 Call

Current Option Price: $0.69-$0.84

Recommended Limit: Set your initial limit order at $0.76

TGT

Current Stock Price: $157.74

Action: Sell to open the TGT Nov Week Two (11/13) 157.50 Put

Current Option Price: $1.85-$2.19

Recommended Limit: Set your initial limit order at $2.02

Note: Option prices tend to move around more than stock prices, so the prices you see when you receive this alert may be different than what I am seeing now. The most frequent concern I hear from members is “missing the trade” — i.e., not getting the limit price I recommend within a few minutes of placing the order.

It is important to be patient with these trades. Begin with my recommended limit for each trade, and if you need to adjust it slightly in a few hours to get in, you can do so.

The Perpetual Income Engine strategy involves selling options every week, so while a few pennies can be important to your short-term return, getting the trade executed is more important over the long run. Use your judgment as to when to adjust the trade after you place your initial order, but give it some time before doing so.

Disclosure: I have positions or trade in and out of AMAT, CHWY, GILD and TGT.

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