Stocks sold off at the open but a lunch time reversal of some of the losses gives us a chance to add more trades to our Triple Play Income positions.




IBM (IBM):  141.90


IBM continues to hold-up well in this bear market environment. We don’t expect it to take off and run but the fact that it continues to trade in a steady range above its 200-day moving average is a good sign. Let’s roll our call out one week to the same strike and collect a small premium.


ACTION:  Roll the IBM 1 Jul 137 call to the 8 Jul 137 call for a net credit of around 0.50 to 0.55

Buy to close IBM 1 Jul 137 call

Sell to open IBM 8 Jul 137 call




Kraft Heinz (KHC):  38.51


Kraft Heinz stock is starting to get traction after several notable analyst upgrades in reaction the continued success of the new management team’s strategic growth plans. Organic sales are up and margins are improving … Wall Street is starting to notice.


Let’s get back into the selling covered calls on KHC.


ACTION:  Sell to open 15 Jul 40 call for a credit of around 0.40 to 0.45

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