Let’s book profits on our Block (SQ) put, earning a 0.8% return in seven days, or 44% annualized. Current Stock Price: $63.48 Cash in Hand: $0.96 Action: Buy to close the SQ Apr Week Four (4/28) 61 Put for around $0.45, but adjust as needed to close today Profit: $0.51, or $51 per contract
I am recommending we roll our Block (SQ) put out one week to avoid assignment and to a lower strike to reduce our risk. We’ll also collect some more income in the process. Note that the company is scheduled to report earnings on May 4. We will close the position next week in order to…
Below are the trades from today’s Income Masters Live Trading Session. TRADE ONE: Sell to open Block (SQ) Apr Monthly (4/21) 62.50 Put for around $0.54. You can go as low as $0.47, but please don’t start there and always use limit orders. (Current stock price: $64.08) TRADE TWO: Sell to open Airbnb (ABNB) Apr…
Block (SQ) plummeted around 20% this morning after the release of a report from short seller Hindenburg Research. The short seller accuses Block’s Cash App of lax controls that facilitated crime. It alleges that employees and user concerns were suppressed or ignored while “criminal activity and fraud ran rampant on its platform.” And it said…
Below are the trades from today’s Income Masters Live Trading Session. TRADE ONE: Sell to open Block (SQ) Mar Week Four (3/24) 72 Put for around $0.77. You can go as low as $0.67, but please don’t start there and always use limit orders. (Current stock price: $77.11) TRADE TWO: Sell to open Blackstone (BX)…
I am recommending we exit our SPDR S&P Regional Banking ETF (KRE) and Block (SQ) puts with modest profits rather than risk another market reversal before expiration. KRE Mar Monthly (3/17) 42 Put Current Stock Price: $45.46 Cash in Hand: $0.34 Action: Buy to close the KRE Mar Monthly (3/17) 42 Put for around $0.16,…
I am recommending we roll our Airbnb (ABNB) and Block (SQ) puts out one week to avoid assignment and buy time for the stocks to recover. I will discuss these positions in more depth in today’s live trading session at noon Eastern. Note that the spreads between the bid and the ask on these options…
Below are the trades from today’s Income Madness Live Trading Session. TRADE ONE: Sell to open Block (SQ) Mar Week Two (3/10) 76 Put for…
Let’s book profits on our Block (SQ) put, earning a 0.6% return in three days, or 71% annualized. Current Stock Price: $78.17 Cash in Hand: $0.72 Action: Buy to close the SQ Mar Week Two (3/10) 70 Put for around $0.31, but adjust as needed to close today Profit: $0.41, or $41 per contract
While there is no live trading session today, I am recommending we sell a put on Block (SQ). The payment processing company is one of my favorite income stocks, as it offers ample volatility and premiums for option sellers. Current Stock Price: $76.37 Action: Sell to open SQ Mar Week Two (3/10) 70 Put for…
