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PIPC Update

Here’s where we stand with our Perpetual Income Portfolio Club positions heading into the weekend.

AMAT Nov Monthly (11/20) 70 Put

Applied Materials (AMAT) has finally broken out, with the stock gaining 7% this week. My guess is that the prospect of the end to the trade war with China is making traders much more willing to invest in the chip sector.

Our put is on track to expire worthless, and we will sell another one next week once we see whether the stock retraces.

Current Stock Price: $77.70

Action: Watch put expire worthless

CHWY Nov Monthly (11/20) 62.50 Put

Chewy (CHWY) also had a great week, jumping roughly 10%. The Commerce Department reported retail sales rose at a seasonally adjusted 0.3% in October, which was lower than expected and marked the slowest pace since the spring. While traditional retailers may struggle in the months ahead as government assistance wanes, Chewy should do just fine.

Our put is on track to expire worthless, and we will sell another one next week once we see whether the stock retraces.

Current Stock Price: $69.18

Action: Watch put expire worthless

GILD Nov Monthly (11/20) 59.50 Call

Gilead Sciences (GILD) took another hit this week as the World Health Organization advised against using remdesivir to treat COVID-19. Gilead is still conducting its own studies. And given the limited number of coronavirus treatments with the pandemic raging out of control, doctors may continue to use remdesivir.

We are currently on track to have our shares called away. If this happens, we may move on from the stock altogether. If, however, the call expires worthless, we will likely sell another one next week.

Current Stock Price: $60.11

Action: Watch call expire

TGT Nov Monthly (11/20) 167.50 Put

Target (TGT) is up nearly 7% for the week on the heels of another terrific earnings announcement. The company blew through analyst estimates for its fiscal third quarter, reporting a 21% year-over-year increase in total revenue, buoyed by 9.9% growth in same-store store sales and a whopping 155% jump in comparable digital sales. What’s more, based on third-party and internal research, Target said it has won $6 billion in market share so far this year.

Our put is on track to expire worthless, and we will sell another one next week.

Current Stock Price: $173.10

Action: Watch put expire worthless

Disclosure: I have positions or trade in and out of AMAT, CHWY, GILD and TGT.

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