Here’s where we stand with our Perpetual Income Portfolio Club positions heading into the weekend.
AAPL Jun Monthly (6/18) 128 Put
Apple (AAPL) remains stuck, but if it stays above $130 for another few days, we can assume it has entered a new trading range with a higher floor.
Our put is on track to expire worthless. We will sell another one next week.
Current Stock Price: $130.89
Action: Watch put expire worthless
CHWY Jun Monthly (6/18) 73 Put
Chewy (CHWY) is up around 5% this week and firmly in a new trading range with a $75 floor. Shares still sit more than 50% below their all-time high, though, and I see the stock as undervalued.
Our put is on track to expire worthless. We will sell another one next week.
Current Stock Price: $78.06
Action: Watch put expire worthless
GM Jun Week Four (6/25) 61 Put
General Motors (GM) said this week that it plans to increase its investment in electric and autonomous vehicles by 75% to $35 billion between 2020 and 2025. Going forward, I expect GM’s valuation to be increasingly pegged to these initiatives. Given this, the stock has plenty of room to run.
We rolled our put on Thursday to avoid assignment and buy ourselves some time for shares to move higher.
Current Stock Price: $59.39
Action: No action is needed at this time
TWTR Jun Week Four (6/25) 60 Put
Twitter (TWTR) remains about 25% below its all-time high, reached in February, but the stock has moved up strongly in the past month. If it can stay above $60 for a few days next week, I would not be surprised if shares break out.
We rolled our put on Thursday to avoid assignment and buy ourselves some time for the stock to move higher.
Current Stock Price: $60.65
Action: No action is needed at this time
Disclosure: I have positions or trade in and out of AAPL, CHWY, GM and TWTR.