I am recommending we book profits on our Advanced Micro Devices (AMD) and Beyond Meat (BYND) positions.
While the AMAT call doesn’t expire until next week, we’re already sitting on a large profit.
Our BYND put is on track to expire worthless, but I’d rather spend a few cents and buy it back now to lock in a profit than risk giving it back if the stock moves lower.
We also have a Peloton Interactive (PTON) call expiring today. I am recommending we roll it out one week and down to the 60 strike — a level I expect the stock to hold. The income we generate will lower our cost basis a good deal.
AMD Jul Week Four (7/24) 55 Call
Current Stock Price: $54.83
Cost Basis: $52.18
- Buy to close AMD Jul Week Four (7/24) 55 Call for around $1.52
- Sell shares at market
Profit: $1.13, or $113 per 100 shares
BYND Jul Monthly (7/17) 120 Put
Current Stock Price: $127.04
Cash in Hand: $0.74
Action: Buy to close the BYND Jul Monthly (7/17) 120 Put for around $0.07, but adjust as needed to close
Profit: $0.67, or $67 per contract
PTON Jul Monthly (7/17) 62.50 Call
Current Stock Price: $59.14
Cost Basis: $60.30
- Buy to close the PTON Jul Monthly (7/17) 62.50 Call for around $0.07
- Sell to open the PTON Jul Week Four (7/24) 60 Call for around $2.05
- Set initial credit limit at $1.98, but adjust as needed to roll today
New Cost Basis: $58.32