New Trade!

Hello Smart Option Sellers! I've finally crawled out from under my rock and entered the social media age. I'm on Twitter! What does that mean? It means I will be posting some of my thoughts from time to time on items related to investing, the stock market and how to be a smarter options trader. If you are already a Twitter member, please go to the website and click on the blue Twitter "Follow" button that you'll see along the top header. This way you can read my tweets and have instant access to some of my other thoughts. And don't forget to "like" or "re-tweet" my posts. This helps increase the public's awareness of the great things we're doing at The Smart Option Seller. Don't worry, no one in the public will have access to any of our trading ideas, nor will I post any trades for free. Also, don't forget to read my new "Put-Selling Basics" guide. It's a great refresher for both experienced and new traders. It's totally free. You can find it on the website or just click here to read. And lastly, many of you are not taking advantage of our phone text alert messaging system. If you'd like to be notified on your mobile phone when a new alert is about to hit your email inbox, join our text alert system by typing in your first & last name and mobile number here: Kellogg (K) Although National Cereal Day was two days ago, it's never too late to hop into one of the biggest cereal makers on the planet - Kellogg. Who doesn't eat cereal? Similar to our current put-sell play in General Mills, Kellogg is a staple brand in many, many homes, and a very stable company at that. With its stock price currently near $73.90 per share, it's one of the more expensive stocks we'll be having a stake in. My goal has been to stick with stocks sub-$50 per share, as we can then use strike prices 20%-30% below that level. But with the never-ending move higher in the stock market, I've been forced to move my put-selling range higher too. We will still stick with very conservative plays, but today's trade pushes us right to that upper boundary and slightly beyond, so take that into consideration when deciding how many put option contracts to play with. Here's what you can choose to do: Sell (sell-to-open) the K July 2017 $55 put option 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. Currently, these put options have a very wide market of $.05 bid/$.50 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 fair value at roughly $.30 contract, so we'll place our orders around that mark. Since these particular options trade in $.05 increments, you will either try to sell them at $.35, $.30, or $.25 per contract. The best course of action is to start your initial offer price at $.35 per contract. If no one bites, you can move your offer down to $.30 per contract. But remember the rule, do not sell for anything less than $.25 per contract. You are always free to choose a different strike price if you'd like, but I am adamantly staying at the $55 strike as our official play. That's all for now. Get those trades in there and let us know how you do. You can reach us here. Regards, Lee Let's Grab That Cash!

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