Coronavirus-related pressure continues to hold down our position in Nike (NKE). Therefore, I am recommending we roll our call out one week to generate more cash.
Current Stock Price: $91.32
Cost Basis: $99.25
- Buy to close the NKE Mar Week One (3/6) 95 Call for around $0.12
- Sell to open the NKE Mar Monthly (3/20) 95 Call for around $1.18
- Set initial credit limit at $1.06, but adjust as needed to roll today
New Cost Basis: $98.19