Market & Position Update
Market & Position 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. Since the beginning of February, there's been a common theme to the market - just keep going up! And as we know, since the election in November, we've had no meaningful pullbacks to speak of. The Dow Industrials started right at 18,000 then and have now touched a high of 20,840. That's a return of 15.8% in just 3.5 months. For those of us holding stocks, it's been a great run. And for those with put-sell positions (like us), it's also been a great way to profit even quicker. As stocks go up, put option prices go down. That's exactly what you're looking for after you've established a put-sell trade. The downside to an ever increasing market is the not-so-ideal environment it creates to finding quality put-selling opportunities. It makes put option prices cheaper while at the same time causes volatility to go down, which in turn depresses put option prices even further. Obviously, you can understand why I love when stock prices sell off. It creates panic in the market, causes volatility to spike, and gives us many great opportunities to open new put-sell positions. It's a contradiction of sorts. We all love the market to go up which is beneficial to our long-term stock holdings, but at the same time, we need healthy pull-backs to re-set the playing field. And right now, we're in desperate need of a sell-off. Until then, we'll keep looking for new opportunities. The good news is that there are always individual companies who have a misstep here and there or miss an earnings estimate. This will temporarily cause the stock to drop and push the put option prices higher. That's when we strike. As far as our four open put-sell positions: all are moving in the right direction (getting cheaper). If you have any of these put-sell positions in your trading accounts, continue to hold as-is for now. I usually reserve Fridays to answer member's questions, but as of now, I really haven't been flooded with many questions. This leads me to believe that many of you already know all the ins-and-outs of put-selling and have nothing to ask of me. Maybe I really am doing a good job! In all seriousness, if you have a question, just send it in. If it can benefit all of us, I will publish it in a Friday alert. That's all for now. Have a great weekend everyone. You can always reach us here. Regards, Lee Let's Grab That Cash!
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