New Trade!

Hello Smart Option Sellers! General Mills, Inc. (GIS) Happy Valentine's Day! What better way to start this "sweet" day than with a new trade! If you live on this planet, then there is no doubt that you have products within your house made by General Mills. In my house, almost every box of cereal is by General Mills (and we have lots of cereal!). GIS stock has been stuck in a fairly tight trading range for about four months now. And it looks as though it may stay range bound for a bit longer. That could work to our advantage as it makes option prices decay that much quicker after we've sold them (that's what we want!) Here's what you can choose to do: Sell (sell-to-open) the GIS July 2017 $47.50 put options for a limit sell price in the range of $.34 to $.39 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 give and if you don't get filled after a bit, you can start to lower your price. Currently, these put options have a very wide market of $.07 bid/$.40 offer, but don't let that scare you away. Some stocks have tighter markets and some have wider markets. It would be ideal if the bid/ask were a few pennies wide, but finding "fair value" is not a problem. Right now I'm computing roughly $.36 - $.37 per contract as fair value, and so we'll place our orders around that mark. As mentioned in the instructions above, you can "work" your offer price by starting at maybe $.37 or $.38 per contract. If no one bites, you can start to creep down your offer to maybe $.35 t