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PIPC Trade Alert: TWTR + Update

Twitter (TWTR) has begun to move back up. The stock is undervalued but may not stay that way for long. I believe investors will come in as they see evidence of the company’s new business model and product initiatives taking hold.

I am recommending we roll our call out two weeks and to a higher strike to capture more potential appreciation.

If you are not in the TWTR position, please sit this trade out. I will alert you when it is time to put new money to work.

Current Stock Price: $54.49

Action:

  • Buy to close the TWTR May Monthly (5/21) 52.50 Call for around $2.02
  • Sell to open the TWTR Jun Week One (6/4) 53.50 Call for around $2.17
  • Set your initial credit limit at $0.15, 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.

AAPL May Monthly (5/21) 128 Call

Apple (AAPL) is also undervalued following the rotation of money out of tech stocks. But there is absolutely no reason to worry about the company fundamentally or the stock longer term.

Our call is on track to expire worthless. We will sell another one next week.

Current Stock Price: $125.71

Action: Watch call expire worthless

CHWY May Monthly (5/21) 70 Call

Chewy (CHWY) has bounced around for the past few days and is up about 0.5% for the week. This is little consolation following the beating the stock has taken. But I have no doubt this pandemic play will continue to thrive in a post-pandemic world with the company experiencing powerful growth.

Our call is on track to expire worthless. We will sell another one next week.

Current Stock Price: $68.36

Action: Watch call expire worthless

GM May Monthly (5/21) 57 Call

General Motors (GM) received more positive analyst coverage this week. An Argus analyst raised his price target for shares from $66 from $62. And a team at the brokerage firm Tudor Pickering Holt & Co. rated GM a “buy” with a $76 price target. Roughly 90% of analysts following the stock rate shares a “buy,” according to Barron’s, who ran a story this week about GM becoming “a Wall Street favorite.”

Our call is on track to expire worthless. If it does, we will sell another one next week. However, if GM continues to run up today and closes above $57, our shares will be called away and we will sell a put next week.

Current Stock Price: $56.45

Action: Watch call expire

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

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