Unofficial Earnings Play Update

Unofficial Earnings Play Update

Hello Smart Option Sellers! Target Corp. (TGT) Been talking a lot about Target lately. As mentioned, TGT was releasing earnings before the bell today and it looks like they completely bucked the current trend of other mainstream retailers. They really hit a good one and surpassed analyst's expectations. In the pre-market, TGT stock traded a tad above $59 per share, putting it up $4.50 from yesterday's close. It has since backed off to around $56 per share. If it can continue to follow through on the upside during the regular session, there may be a chance to take profits on the play. If you got involved in this trade, and depending on which strikes you bought, you need TGT to probably move above $60 per share in order to see gains. I would continue to hold for now and to watch the stock. If it keeps moving higher, take the gains when you can. Don't get greedy. As we're seeing, many of these stocks have the capability to jump, it's just whether they can jump far enough to convert the trade into gains. I'll continue to look for these earnings plays but this current season is starting to wind down. You will always have many more misses than gains with trades like that, but it's fun from time to time to swing for the fences as long as you do it cheaply. For me, I like to stick with our high probability put-sell trades and will continue to alert everyone to those opportunities. We currently have nine open positions in our portfolio and all are in the black. Continue to hold all as-is. Housekeeping Note: A quick note about our Alert emails. I hear from membe