VZ had climbed over our $42 strike price a couple of weeks ago and then went on a tear, reaching $47.36 only yesterday. Then, this morning at Deutsche Bank’s Media, Internet & Telecom Conference, Chief Revenue Officer Frank Boulben said Q1 subscriber growth will probably be “soft”. And down goes Frazier! Apparently, Frank’s comment was worth a 10% drop. I am taking advantage of today’s volatility by rolling the outstanding call up and out.
In the same, two-legged, GTC option order:
Buy to Close: (1) April 17, 2025 $42.00 Call Option [Symbol: VZ250417C42]
Sell to Open: (1) October 17, 2025 $44.00 Call Option [Symbol: VZ251017C44]
Limit Order Price: Credit of $0.45 per share
I was lucky enough to get a $0.45 credit, but even $0.40 would be acceptable. After commissions, this resulted in $43.97. That’s a nice roll credit for lifting the strike price $2.00 higher and above the current price of $43.28.