The market volatility this week with the VIX up at 30 again and the market going up, down, up is giving us a chance to make a few trade adjustments in our favor. Let’s start with ABBV.
AbbVie Inc. (ABBV): 159.27
AbbVie stock price has started to recover from their recent downturn and we have a chance to roll our 29 Apr 170 call out and down (but still above the price we bought the stock) to collect a solid premium. ABBV reports earnings on Friday morning but we will roll our calls well out beyond that date.
ACTION: Roll the ABBV 29 Apr 170 call to the 13 May 167.50 call for a net credit of around 1.04 to 1.08
Buy to close ABBV 29 Apr 170 call
Sell to open ABBV 13 May 167.50 call
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