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PIPC Update

Editor’s note: Michael is hosting a Perpetual Income Portfolio Club Live Trading Session on Monday, Nov. 9, at 11 a.m. Eastern. If you have not already done so, register here.

Once you have registered, you will receive email reminders from our webinar provider, Zoom, prior to the session with a link to join.


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

AMAT Nov Week One (11/6) 62 Put

Applied Materials (AMAT) ran up this week alongside the tech sector’s abrupt move higher. Our put is on track to expire worthless and we sell another one next week.

Current Stock Price: $69.65

Action: Watch put expire worthless

CHWY Nov Week One (11/6) 67.50 Put

Chewy (CHWY) has rallied more than 12% so far this week and is 2.6% above our put’s strike price. Therefore, our put is on track to expire worthless, meaning we will sell another one next week. If, however, this volatile stock turns lower today and closes below $67.50, we will accept shares and sell a call on Monday.

Current Stock Price: $69.29

Action: Watch put expire worthless

GILD Nov Week One (11/6) 60 Call

Gilead Sciences (GILD) popped above our call’s strike Wednesday with the broader market but has since dropped back below it. Our call is on track to expire worthless and we will sell another one next week.

Current Stock Price: $58.80

Action: Watch call expire worthless

TGT Nov Week One (11/6) 160 Call

Target (TGT) is up 5% this week and trading a few cents below our call’s strike. If our call expires worthless, we will sell another one on Monday. If the stock closes above $160, our shares will be called away and we will sell a put next week.

Current Stock Price: $159.82

Action: Watch call expire

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

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