Here’s where we stand with our Perpetual Income Portfolio Club positions heading into the weekend.
AAPL Apr Week Four (4/23) 126 Call
Apple (AAPL) continued to grind its way up this week, possibly helped by reports the company is working on new smart-home products.
Our call does not expire for another week, but we may roll to a higher strike before then to capture more potential appreciation.
Current Stock Price: $133.93
Action: No action is needed at this time
CHWY Apr Monthly (4/16) 83 Put
Chewy (CHWY) bounced around this week, displaying the volatility that makes it such an attractive income stock for option sellers.
Our put is currently on track to expire worthless. If it does, we will sell another one next week. However, if the stock closes below $83, we will be assigned shares and sell a call against them.
Current Stock Price: $83.43
Action: Watch put expire
GM Apr Monthly (4/16) 59.50 Put
General Motors (GM) announced this week that it is building a battery plant with Korea-based LG Chem. This is another step on the automaker’s path to becoming a serious player in the electric vehicle market. Investors have yet to take notice of this, but I think it’s only a matter of time.
We are on track to be assigned shares. We will sell a call against them next week.
Current Stock Price: $58.80
Action: Accept shares
TWTR Apr Monthly (4/16) 70 Put
Twitter (TWTR) is trading just below our put’s strike price. I think $70 will prove to be a short-term floor, but time will tell.
We are currently on track to be assigned shares. If we are, we will sell a call against them next week. However, if the stock closes above $70, our put will expire worthless and we will sell another one next week.
Current Stock Price: $69.98
Action: Watch put expire
Disclosure: I have positions or trade in and out of AAPL, CHWY, GM and TWTR.