Trade Update & Profit Time

Trade Update

Hello Smart Option Sellers! Before I get to the alert, don't forget to read my new "Put-Selling Basics" guide I have on the website. It's a great refresher for both experienced and new traders. It's totally free. Just click here to read. Update on our General Mills (GIS) put-sell order. We had a few members who got filled on Friday at the low end of my recommended sell range of $.34 per contract. At this point, we need to follow the trade as an official transaction, but I want everyone else to still keep their orders working "GTC" within the range I set ($.34 - $.39 per contract). You can decide at what price within that range to set your order. With GIS stock up $2 per share today, it is putting pressure on the put option prices, so getting filled may not happen today for the rest of you. Sometimes we may not be able to get the prices we want on the first go round. I am still evaluating the stock movement, and if I decide to adjust our order, I will send out another alert. Officially, here's what we've done with GIS: Sold (sold-to-open) the GIS July 2017 $47.50 put options for an official sale price of $.34 per contract as an opening transaction (sold-to-open). Profit Time On BMY! It's time to take our first profits within The Smart Option Seller. Bristol Myers Squibb (BMY) BMY stock has moved higher ever since the day we jumped into this put-sell trade. And when stocks move higher, put option prices move lower. That's what helps us make a profit. If you were able to enter this put-sell trade, now is the time to take profits. Here's what you can choose to do: Buy back (buy-to-close) all of your BMY June 2016 $38 put options for a limit buy price of $.07 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Let's discuss this buy-back trade. Important: You will only buy this put option back if you had already sold it when first recommended. This is not a new trade for you to buy this put option outright. You are only buying it to close out the put-sell trade. This is part of my "80%" Rule which states we look to buy back the put options we've sold if they've lost 80% or more of their value. We do this regardless of the expiration date. We sold the BMY put option on January 26, 2017 at an official price of $.45 per contract. Today we are going to buy it back at $.07 per contract to lock in a $.38 per contract gain. The value of this put option has eroded 84% since we sold it, so we invoke the 80% Rule and buy it back to lock in the gains. Currently, the BMY put option is showing an $.08 offer price, so we'll be putting in a $.07 bid, which I'm sure we'll see some fills go through. Although my instructions are to buy it for $.07 or cheaper, you are more than welcome to place a $.05 bid or $.06 bid (cheaper than $.07) to see if you can squeeze an extra penny or two out of it. It's up to you. Heck, it may even be offered at $.07 or cheaper by the time you read this alert. You can also continue to hold if you want and wait until it gets even cheaper. Officially, we are buying today for $.07 per contract. Get those orders in now and let us know how you do. Remember, you will only buy this put option today if you've already sold it previously. That's all for now. You can always reach us here: Regards, Lee Let's Grab That Cash!

Smart Option Seller Portfolio

Housekeeping I plan to use this housekeeping space to give updates on website and member-related information. Some of it will remain fixed and some will be a one-time mention. 1. We now have our text messaging system in place. If you'd like to be notified on your mobile phone when a new alert is about to hit your inbox, join our text alert system by typing in your first and last name and mobile number here: You should then receive a welcome message from me. You can disregard the message that states how many messages you will receive per month. That's just for legal purposes and has no bearing on how many messages you'll actually receive from me. All other text messages you'll receive will just be a head's up that a new alert is about hit your email. 2. All alerts will be archived on the website under the "Archive" section which you can find along the top menu of the website. If you are a new member, please use this section to read past alerts to see what we've been doing. This is a password-protected area for Smart Option Seller members only. Your password to enter this area is smartoption. Please write this password down and keep it in a safe place. You will need it to access the Archives. 3. Don't forget about our Referral Program. See details here: As always, if you have any questions, comments or feedback, please let us know. Thank you! You can contact us here.

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