Here’s where we stand with our Perpetual Income Portfolio Club positions heading into the weekend.
AAPL Jun Week Two (6/11) 125 Call
Apple (AAPL) appears to have a new ceiling in play at the $125 level, and it may take a rally in the broader tech sector for the stock to break through it. AAPL is currently trading just above the strike price of our call. If it closes above $125, our shares will be called away. However, if it closes below that level, the call will expire worthless.
Current Stock Price: $125.12
Action: Watch call expire
CHWY Jun Week One (6/4) 73.50 Call
Chewy (CHWY) continued to move higher this week and our shares are on track to be called away. The company is expected to report earnings next week and holding a position through the announcement is too risky.
Current Stock Price: $76.78
Action: Allow shares to be called away
GM Jun Week One (6/4) 59 Put
General Motors (GM) broke out this week on news the automaker will be accelerating deliveries to dealers and customers in North America and improved guidance for the first half of the year. Our put is on track to expire worthless.
Current Stock Price: $62.72
Action: Watch put expire worthless
TWTR Jun Week One (6/4) 53.50 Call
Twitter (TWTR) has broken out, jumping roughly 20% from its midmonth low. Today, the company announced the launch of its first subscription offering, Twitter Blue, which represents a new source of revenue for the social media giant. Our call is deep in the money and our shares are on track to be called away.
Current Stock Price: $59.10
Action: Allow shares to be called away
Disclosure: I have positions or trade in and out of AAPL, CHWY, GM and TWTR.