Skip to content
Options Income Masters
93% of My Members Collect An Extra Paycheck Every Week!
Options Income Masters
  • Main
  • OIB Training
  • Weekly Update
  • Trading
    • Menu icon-Income Masters-
    • Menu icon-Options Income Blueprint-
    • Menu icon-Income Madness Week-
  • Coaching
    • Menu iconSix Figure Portfolio Coaching Main Page
  • Training
    • Weekly Paycheck Training Program
    • Income Accelerator Coaching Main Page
    • Selling Weekly Options Workshop
    • Win 98% of Your Trades
  • About Us
  • Login
close
  • Home
  • Dashboard
  • Login

PIPC Trade Alert: CHWY, GM, TWTR + Update

Chewy (CHWY) and General Motors (GM) were hit hard this week, pushing our puts into the money. I believe the sell-off in these stocks will be short-lived and a rebound will ensue. Therefore, I am recommending we roll our puts to avoid assignment and buy ourselves some time.

Our Twitter (TWTR) put is also in the money, but I am recommending we spend some cash to close the put rather than roll or accept shares. The company is expected to report earnings next week and I do not want to hold a position through the announcement.

CHWY Jul Monthly (7/16) 80 Put

Current Stock Price: $77.12

Action:

  • Buy to close the CHWY Jul Monthly (7/16) 80 Put for around $2.95
  • Sell to open the CHWY Jul Week Four (7/23) 80 Put for around $3.70
  • Set initial credit limit at $0.75, but adjust as needed to roll today

GM Jul Monthly (7/16) 60 Put

Current Stock Price: $55.89

Action:

  • Buy to close the GM Jul Monthly (7/16) 60 Put for around $4.10
  • Sell to open the GM Jul Week Four (7/23) 60 Put for around $4.15
  • Set your initial credit limit at $0.05, but adjust as needed to roll today

TWTR Jul Monthly (7/16) 67.50 Put

Current Stock Price: $66.75

Action: Buy to close the TWTR Jul Monthly (7/16) 67.50 Put

Current Option Price: $0.74-$0.83

Recommended Limit: Set your initial limit order at $0.79, but adjust as needed to close the position today

And here’s where we stand with our other Perpetual Income Portfolio Club position heading into the weekend.

AAPL Jul Monthly (7/16) 140 Put

Apple’s (AAPL) runup appears to be slowing down and shares are having trouble cracking $150. Our put is on track to expire worthless, and we will sell another one next week. I plan to select a strike that is considerably out of the money in anticipation of a technical sell-off if the stock fails again to break $150.

Current Stock Price: $147.79

Action: Watch put expire worthless

Disclosure: I have positions or trade in and out of AAPL, CHWY, GM and TWTR.

Go to Top
×