Hello Smart Option Sellers! Gap Inc. (GPS) We currently have a put-sell order working on GPS that has not been filled yet. We're going to replace that order and adjust the strike price. There's two parts for today: - Outright cancel your order to sell-to-open the GPS September 2017 $16 put options for a limit sell price of $.30 per contract or higher. And replace with this one: - Sell (sell-to-open) the GPS September 2017 $17 put options for a limit sell price of $.30 per contract or higher, GTC (good-till-cancelled), as an opening transaction (sell-to-open). So we're cancelling the order for the $16 strike and replacing with the $17 strike. Same expiration month. Currently, the $17 put option has a market of $.31 bid/$.43 offer, so we will definitely be able to get filled today. With the current bid price ($.31) being higher than my recommended price ($.30), you can easily try to get a higher price, as the fair value is closer to $.35 or $.36 currently. The best course of action is to start your initial offer price at maybe $.40 per contract. If no one bites, you can move your offer down incrementally until you get filled. Do not sell for anything lower than $.30 per contract! If you are a newer member to The Smart Option Seller, you might not have placed the original GPS trade to begin with. That's ok. You will only have to place the new trade today. For the current status on all positions, just check the Portfolio which is always listed near the end of these alerts. As of now, the Target put-sell trade is the only one still viable for new trades if you don't have a position established yet. That's all for now. Get those orders in there and let us know how you do. You can contact us here. P.S. I may have an unofficial earnings play for us tomorrow, so stay alert! Regards, Lee Let's Grab That Cash!
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