Let’s take advantage of a slightly calmer market today and manage a few more of our Triple Play Income positions.
Blackstone (BX): 97.63
Blackstone stock this tried to rally through these last 2 weeks but continues to get stuck in a 95 to 100 trading range. Let’s roll our calls down one strike and out just one week. The company reports earnings on 7/21 and could pop the stock one way or the other.
ACTION: Roll BX 8 Jul 104 call to the BX 15 Jul 103 call for a net credit of around 0.70 to 0.75
Buy to close BX 8 Jul 104 call
Sell to open BX 15 Jul 103 call
Cardinal Health (CAH)
Our 8 Jul 22 55 call is now trading at around 0.025 or less. We will roll this position out 2 weeks and sell a call.
ACTION: Roll the CAH 8 Jul 55 call to the CAH 22 Jul 54 call for a net credit of around 0.55 to 0.60 and a 1% return.
Buy to close CAH 8 Jul 55 call
Sell to open CAH 22 Jul 54 call
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