We have 3 more positions with 11/25 expirations that we will need to manage today ahead of the short market day on Friday. There will be no more alerts this week. Have a Happy Thanksgiving everyone.

TRADE ROLL

AbbVie (ABBV):  159.18

AbbVie is another stock benefiting from a rising market. Humira going generic in January hasn’t scared away investors and Wall Street, who suddenly fell in love with this pharma giant.

Our calls have been run over but ABBV stock price could come back down again. We will roll our call out to the same strike to collect premium for now.

ACTION:  Roll ABBV 25 Nov 152.50 call to the ABBV 9 Dec 152.50 call for a net credit of around 0.95 to 1.00 and a .6% return

Buy to close ABBV 25 Nov 152.50 call

Sell to open ABBV 9 Dec 152.50 call

TRADE ROLL

Blackstone (BX):  88.93

Blackstone stock price ripped higher to 101 before falling back to under 90. There is still lots of volatility in the options for selling calls but want to be as far out of the money as possible with a longer expiration.

ACTION:  Roll the BX 25 Nov 101 call to the 16 Dec 98 call for around 1.00 and a 1.1% return

Buy to close BX 25 Nov 101 call

Sell to open BX 16 Dec 98 call

TRADE ROLL

Vale S.A. (VALE):  14.89

As a mining company, VALE will start to benefit from China re-opening its economy and the increased demand for iron ore. We may finally be getting a move in the stock price towards the upside.

Let’s roll our 25 Nov 15 call out 2 weeks.