We can manage a few more of our Triple Play Income positions today.
Blackstone (BX): 109.64
We have been waiting for Blackstone stock to bottom out and began to retrace higher. Stocks in general are up again today and there is support for BX at the 106 – 108 level. We can sell a covered call well out of the money and get back to collecting income from his position.
ACTION: Sell to open BX 10 Jun 119 call for a credit of around 1.00 to 1.07 and a .9% return.
BUY STOCK AND SELL CALL
Dow Inc. (DOW): 66.41
Our DOW 20 May 67 put expired worthless last Friday. The stock goes ex-dividend this coming Friday (5/27). We can go ahead and buy DOW stock and sell a covered call today.
ACTION: Buy DOW stock at market and sell to open the DOW 10 Jun 68 call for around 0.90-0.95 and a 1.3% return.
Gilead Sciences (GILD): 64.09
Gilead stock price continues a steady climb higher with the ex-dividend date coming up on 6/14. Let’s roll our call higher and up a strike. We will not get much credit for this roll but we can move our strike higher and collect another $1.00 of capital gains.
ACTION: Roll the GILD 27 May 64 call to the GILD 10 Jun 65 call for a net credit of around 0.25.
Buy to close GILD 27 May 64 call
Sell to open GILD 10 Jun 65 call
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