Our Blackstone Group (BX) call expired worthless last week, so I am recommending a new call to sell today. Note that this recommendation is only for people who already own shares of the stock uncovered from a previous position.
I am also recommending we roll the short leg of our CVS Health (CVS) call spread.
Finally, let’s book profits on our Corning (GLW) put position.
BX Uncovered Shares
Current Stock Price: $69.21
Cost Basis: $70.45
Action: Sell to open the BX Mar Week One (3/5) 70 Call for around $0.85, but adjust as needed to sell a call today
New Cost Basis: $69.60
CVS Jan Monthly (1/21/22) 52.50/Feb Week Four (2/26) 73.50 Call Spread
Note: No action is needed on our CVS Jan Monthly (1/21/22) 52.50 Call at this time.
Current Stock Price: $69.90
Cost Basis: $18.66
- Buy to close the CVS Feb Week Four (2/26) 73.50 Call for around $0.04
- Sell to open the CVS Mar Week One (3/5) 72.50 Call for around $0.37
- Set your initial credit limit at $0.33, but adjust as needed to roll today
New Cost Basis: $18.33
GLW Feb Week Four (2/26) 37.50 Put
Current Stock Price: $38.13
Cash in Hand: $0.81
Action: Buy to close the GLW Feb Week Four (2/26) 37.50 Put for around $0.30, but adjust as needed to close today
Profit: $0.51, or $51 per contract