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SFPC Trade Alert: BX, CVS, GLW

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

Action:

  • 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

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