Unofficial Earnings Play Update

Unofficial Earnings Play Update

Hello Smart Option Sellers! Let's get an update on the earnings play. Michael Kors (KORS) KORS released earnings this morning that were deemed mixed by analysts, but nonetheless, the stock is falling in the pre-market to the tune of about $3 per share. It's currently near $33.40. I mentioned yesterday that KORS had the history and capability to drop at least $5 per share, so it needs to move a bit more in order for the play to work out. If any Smart Option Seller members opted to buy the cheap options yesterday, you need the stock to drop below $31 or $32 per share, depending on which strikes you bought. Most of the out-of-the-money (OTM) options probably won't have too much value this morning, but if the stock continues to slide, those put options will start to increase in price, possibly leading to a profit for some of you. Keep an eye on the positions if you bought them. You still have all of today and Thursday and Friday's trading to give you a shot. Continue to hold all other trades as-is. We're starting to see a few positions get close to my "80% Rule" threshold, so we might have some profit-taking in the next few days. Keep an eye out for those Alerts. Contact us here with any questions/comments/concerns/praise! Regards, Lee Let's Grab That Cash!

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