I am recommending we roll our Bank of America (BAC) and Pfizer (PFE) calls out two weeks and to lower strike prices to generate more income and reduce our cost basis on the positions. Note that the new calls expire on a Thursday, as the market is closed on Friday, April 7, in observance of…
I am recommending we sell calls on our uncovered shares of Bank of America (BAC) and Pfizer (PFE) to generate income and reduce our cost basis on the positions. Shares of Bank of America got whacked with the rest of the financial sector following the collapse of Silicon Valley Bank, Silvergate and Signature Bank, despite…
Bank of America (BAC) and Pfizer (PFE) — two of our core positions – have sold off with the broader market over the past two weeks, down around 10% and 5%, respectively. BAC’s sell-off has been exacerbated by the decline in the financial sector following the collapse of Silicon Valley Bank. While California regulators have…
I am recommending we roll our Bank of America (BAC) and Pfizer (PFE) puts out two weeks to generate more income and reduce our net debits on the positions. BAC Feb Week Four (2/24) 35.50 Put Current Stock Price: $33.92 Net Debit: $9.27 Action: Buy to close the BAC Feb Week Four (2/24) 35.50 Put for…
I am recommending we roll our Bank of America (BAC) put out two weeks and to a higher strike price to generate more income and reduce our net debit on the position. You can enter the second leg of the BAC trade even if you were not in the previous one. Just be aware that…
I am recommending we roll our Bank of America (BAC) put out two weeks to generate more income and reduce our net debit on the position. You can enter the second leg of today’s trade even if you were not in the previous one. Just be aware that we will be managing and tracking it…
Bank of America (BAC) reported better-than-expected fourth-quarter results, as the bank benefitted from higher rates, which helped offset declines in investment banking. Yet, shares sold off as CEO Brian Moynihan offered a muted outlook for 2023. With shares bouncing off this morning’s lows, I am recommending we sell a put to generate income and reduce…
Bank of America (BAC) is trending in the right direction, but this has pushed our call in the money. With the bank set to report earnings next week, I am recommending we allow our shares to be called away. Once we see how the market responds to the announcement, we will sell a put to…
We were assigned shares of Bank of America (BAC) last week. It has been struggling recently, but this is a core stock, and we are in it for the long haul. BAC is grossly undervalued and grossly oversold. Today, I am recommending we sell a call expiring in January to generate income and reduce our…
Bank of America (BAC) has fallen about 16% in the past month, significantly underperforming the broader market and the sector. This underperformance is curious given the bank’s leading position and the strength of its Merrill Lynch investment and wealth management arm. What I do know, though, is that the stock is grossly undervalued and grossly…
