As we alerted you recently, we have officially closed the Perpetual Income Portfolio Club. However, we still have an ongoing trade in General Motors (GM).
The stock has bounced back some after getting slammed Wednesday following the release of the company’s second-quarter earnings report. Earnings fell short of analyst expectations due in part to warranty recall costs.
I think the sell-off was an overreaction. The automaker also reported a record operating profit and raised its full-year guidance.
Our call is on track to expire worthless, and we will sell another one next week.
GM Aug Week One (8/6) 57 Call
Current Stock Price: $55.13
Action: Watch call expire worthless