Market Update
Market Update
Hello Smart Option Sellers! We're in a bit of a holding pattern right now as far as the market and our positions go. One thing you might realize about put-selling is that it's a game of patience. Once we establish the trade, there's not much to do at that point. Over time, you'll see a slow bleed of the option price until it's time to close it out. That slow bleed might not be enough action for hyper-active traders who always need to be involved. Put-selling is not like that. You'll find that you might literally need to sit on your hands to keep them away from clicking on the mouse to make more trades. Sometimes put-selling is like watching paint dry - boring!!!! But, are you going to complain if that boring strategy hands you 90+% winners? Don't be swayed by the inaction of the strategy. That's how it works. Think of it as a "set it and forget it" type of trade. The major stock indices are selling off a bit today which is popping the volatility (look at a VIX chart). This is encouraging as far as potential new trades can go as higher volatility leads to higher option prices, which is great for us. Let's see if we can string together a day or two of downside market action, as that would allow us to find new trades and allow some of our pending trades to be filled. To clarify, i'm not looking for an all-out rout to send everyone running for the hills. I'm just looking for a little pull-back to rinse the market a bit and add some fear to those wanting to pay higher prices for put options. This will allow us to enter trades at good prices, and then the market can work its way back higher again. That's the cycle we need every few weeks. Make sense? That's all for now. Keep holding all positions as-is, and keep working unfilled trades GTC (good-til-cancelled). You can always contact us here. Regards, Lee Let's Grab That Cash!
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