New Trade!
New Trade! Hello Smart Option Sellers! Verizon (VZ) We stick with what we know. VZ was a very successful play for us a number of times in the past, so we're going in again. It's hard not being a fan of the largest and most reliable mobile carrier out there, in my opinion. Mobile communications is already the wave of the future, and VZ is well positioned to keep its lead over the rest of the pack. The stock has pulled back a decent amount over the last month, and I feel it's getting to a low point that should enable us to jump into a new put-sell trade. There could be more downside to the stock, but at this point I feel it will be limited. Sure, we can wait to see if it happens, but what if it doesn't? I'd rather get in a little early than a little late. If the stock does keep falling a bit, it will allow all of us to attain good fill prices on the put-sells. Don't be afraid of a little stock movement. Here's what you can choose to do: Sell (sell-to-open) the VZ July 2017 $39 put options for a limit sell price in the range of $.25 to $.35 per contract, GTC (good-til-cancelled), as an opening transaction (sell-to-open). Remember the rules: 1. We are going to sell these put options as our trade. We
are not buying them. 2. Do not use a "market" order. Only use "limit" orders. 3. Don't be impatient with your order. "Work" your offer price a bit, meaning you can start at the higher end of the range I gave and if you don't get filled after a bit, you can start to lower your price. Currently, these put options have somewhat of a wide market of $.27 bid/$.35 offer, but we'll still be able to sell them within the range I am giving you. As mentioned in the instructions above, you can start your offer price at maybe $.33 or $.34 per contract. If no one bites, you can start to creep down your offer to maybe $.32 or $.31 per contract. The key to getting good fill prices is to not jump right into the trade and sell at the prevailing bid price (in this case $.27). Why sell at $.27 when you could possibly get $.31 or $.32 per contract? This is what's meant by "working" your order. We are staying conservative and safe with our trades for now because of the reasons I've been giving in earlier alerts - mostly due to low volatility in the market (which leads to lower option prices), and because we have not had a good pull-back in awhile. You are always free to choose a different strike price if you'd like to get a bit more cash in your pocket. If you are ok with the extra risk, you can look at the $40 or $41 strike prices. Officially, we are going with the $39 strike as instructed. Get those orders in now and let us know how you do. You can reach us here: Regards, Lee Let's Grab That Cash!
Smart Option Seller Portfolio
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