Here’s where we stand with our Perpetual Income Portfolio Club positions heading into the weekend.
AAPL Apr Week Two (4/9) 125 Call
Apple (AAPL) is slowly reclaiming lost ground following the sell-off in tech. I do not anticipate any major moves in the stock until the company announces earnings in late April or early May. Unless, of course, there is a major upswing in the tech sector.
Our call does not expire for another week, so we are simply watching and waiting for now.
Current Stock Price: $122.71
Action: No action is needed at this time
CHWY Apr Week One (4/1) 85 Call
Chewy (CHWY) popped Wednesday, following the release of a terrific earnings report, before retreating today. The company surprised Wall Street by reporting its first adjusted profit of $0.05 per share versus an expected loss of $0.10. Revenue jumped 51% year over year to $2.04 billion, and Chewy ended the quarter with 19.2 million users, 43% higher than a year ago.
Our call is on track to expire worthless, and we will sell another one next week.
Current Stock Price: $82.05
Action: Watch call expire worthless
GLW Apr Week One (4/1) 41 Put
Corning (GLW) continued to move higher this week. There’s a lot for investors to like about the company, including its exposure to the medical glass market and strong iPhone 12 sales.
Our put is on track to expire worthless, and we will sell another one next week.
Current Stock Price: $43.86
Action: Watch put expire worthless
SBUX Apr Week One (4/1) 107 Call
Starbucks (SBUX) is down slightly this week but is holding up well as a pandemic recovery stock. Even growing concern about anti-American sentiment in China has not dented the stock.
Our shares are on track to be called away, and we will sell a put next week.
Current Stock Price: $109.10
Action: Allow shares to be called away
Disclosure: I have positions or trade in and out of AAPL, CHWY, GLW and SBUX.