I am recommending we roll all four of our Perpetual Income Portfolio Club positions today to capture more premium.
If you are not currently in the Applied Materials (AMAT), Chewy (CHWY) and Target (TGT) positions, you can enter them today by selling the monthly puts.
Note that Target is expected to report earnings on Wednesday, and I am recommending an aggressive position going into that announcement.
If you are not currently in a Gilead Sciences (GILD) position, please do not enter one at this time. We will be looking to exit the stock in the next few weeks.
Finally, since we are managing all of our positions today, there will be no PIPC Update tomorrow.
AMAT Nov Week Two (11/13) 70 Put
Current Stock Price: $70.36
Action:
- Buy to close the AMAT Nov Week Two (11/13) 70 Put for around $1.33
- Sell to open the AMAT Nov Monthly (11/20) 70 Put for around $2.03
- Set your initial credit limit at $0.70, but adjust if needed to roll today
CHWY Nov Week Two (11/13) 62 Put
Current Stock Price: $62.24
Action:
- Buy to close the CHWY Nov Week Two (11/13) 62 Put for around $0.86
- Sell to open the CHWY Nov Monthly (11/20) 62.50 Put for around $2.39
- Set your initial credit limit at $1.53 but adjust if needed to roll today
GILD Nov Week Two (11/13) 59.50 Call
Current Stock Price: $59.02
Action:
- Buy to close the GILD Nov Week Two (11/13) 59.50 Call for around $0.23
- Sell to open the GILD Nov Monthly (11/20) 59.50 Call for around $0.73
- Set your initial credit limit at $0.50 but adjust if needed to roll today
TGT Nov Week Two (11/13) 157.50 Put
Current Stock Price: $159.78
Action:
- Buy to close the TGT Nov Week Two (11/13) 157.50 Put for around $0.36
- Sell to open the TGT Nov Monthly (11/20) 160 Put for around $5.70
- Set your initial credit limit at $5.34 but adjust if needed to roll today
Disclosure: I have positions or trade in and out of AMAT, CHWY, GILD and TGT.