On 2026-06-29, CMCSA jumped 17% to $27.10 on news that it is going to split into two publicly traded companies, Comcast and NBCUniversal. Just over a week later, it is as if nothing ever happened; CMCSA is trading at $23.57, having bounced back slightly from a post-announcement low of $22.80. I think CMCSA is going to get back to $27, if not soon, then certainly as the split nears, approximately one year from now. Rather continue to stay capped at the $26 strike price we have on our covered call, I think it makes sense to roll up and out, making sure we are paid appropriately.
In the same, two-legged, GTC option order:
Buy to Close: (1) September 18, 2026 $26.00 Call Option [Symbol: CMCSA260918C26]
Sell to Open: (1) December 18, 2026 $27.50 Call Option [Symbol: CMCSA261218C27.50]
Limit Order Price: Credit of $0.35 per share
Since the new expiration date is three months later, we demand a premium worth another quarterly dividend.