We have two call options expiring this week that we are going to roll today.

ROLL
CF Industries (CF): 74.55

CF Industries has bounced off its 67 low and is trading in the 72-to-75 range. With earnings scheduled for May 1, premiums are elevated. We can roll our call out two weeks and down a strike for a solid credit.

ACTION: Roll the CF 21 Apr 80 call to the CF 5 May 79 call for a net credit of around 0.75 to 0.80

Buy to close CF 21 Apr 80 call
Sell to open CF 5 May 79 call

ROLL
Dow (DOW): 55.75

Industrial stocks have generally been reporting solid earnings. Dow is scheduled to report before the market open on April 25, while the ex-dividend date isn’t until May 30. Let’s take advantage of elevated premiums ahead of earnings to roll our call out and up a strike.

ACTION: Roll DOW 21 Apr 55 call to the DOW 12 May 56 call for a net credit of around 0.55 to 0.60

Buy to close DOW 21 Apr 55 call
Sell to open DOW 12 May 56 call