We have several positions to manage today.  

BUY-WRITE
AbbVie (ABBV): 162.75

 AbbVie goes ex-dividend tomorrow, April 13, with a solid 1.48 payout. We were called out of the stock last week and will need to buy shares today to earn the dividend. This trade is for all members.

ACTION: Open ABBV buy-write 28 Apr 165 call for a net debit of around 161.00 to 160.90.

Buy ABBV shares at market around 162.75
Sell to open ABBV 28 Apr 165 call for a credit of around 1.75 to 1.85

ROLL
Gilead Sciences (GILD): 82.36

Gilead has traded flat for the past week or so. With earnings expected to be released around April 27, let’s take advantage of the elevated premium to roll our call out two weeks and up a strike to pick up $1 of capital appreciation.

ACTION: Roll GILD 14 Apr 83 call to the 28 Apr 84 call for a net credit of around 0.74 to 0.78.

Buy to close GILD 14 Apr 83 call
Sell to open GILD 28 Apr 84 call

ROLL
Vale S.A. (VALE): 16.26

Iron ore prices continue to rise as demand from China picks up after the reopening, which is good for Vale’s growth outlook. The stock is slowly climbing, and we want to stay ahead of it if we can by rolling our call out to May and up to the 16.50 strike.

ACTION: Roll VALE 14 Apr 16 call to the 12 May 16.50 call for a net credit of around 0.22 to 0.26.

Buy to close VALE 14 Apr 16 call
Sell to open VALE 12 May 16.50 call