We've been waiting PATIENTLY for a sell-off and then, even more patiently for a bounce and, this morning, in our Member Report, we found about a dozen stocks we had dropped from our Member Portfolios during the sell-off that have now gotten to the point where we'd like to buy them back (at nice discounts!).
We've played them all before so there's not much narrative - all of these positions made the cut long ago to be part of our portfolios so it's a no-brainer that they should be the first stocks we add back in at bargain prices after a sell-off.
"The LTP, meanwhile, also with no changes (I haven't done updates), is at $4,276,188, which is up about $40,000 from Thursday and, of course, that's a new record and combined with the STP we're smashing it so there's really no reason not to take some bullish tosses - just in case the rally continues.
We'll start with the stocks we discussed above - ones that we cut that are now cheaper and thus, more interesting than they were two weeks ago (and we've also got comfortable with how well they held up in the turmoil)."
- LEN - In the STP, let's sell 10 LEN 2027 $120 puts for $20.50 ($20,500). It's a net $99.50 entry and, if LEN does go lower, we're thrilled to move it (and the loss) to the LTP, where we'll add a bull call spread to it. If not and it just goes up - $20,500 to offset losses on STP hedges.
- M - Good one for the $700/Month Portfolio. Let's Buy 10 M 2027 $12 calls for $3.60 ($3,600) and Sell 7 M 2027 $17 calls for $1.85 ($1,295) and sell 3 June $14 calls for $1.05 ($315) for net $1,990.
