Profit Time!

Profit Time!

Hello Smart Option Sellers! I know this alert comes later in the trading day, but certain numbers just moved in our favor to where we needed them to be. We're going to take profits on one of our open positions. Verizon (VZ) I've been mentioning in the last few alerts that some of our trades were getting close to my "80% Rule" threshold. This rule states that if an option price has declined 80% from where we first sold it, we would look to buy it back and lock in gains. VZ is at that level right now. Here's what you can choose to do: Buy back (buy-to-close) all of your VZ July 2017 $39 put options for a limit buy price of $.06 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option is now offered at $.06 per contract, so we should have no problem getting filled at that price. Our original entry sell price for this trade was $.30 per contract back on February 8, 2017. It has now decayed down to $.06 per contract. That's an 80% decline ($.24/$.30 = 80%). This is when we take a profit according to my 80% Rule. Note: This trade is only for those members who currently hold the VZ put-sell position in their trading account. This is not a new trade to enter. If you just joined us recently, you will not be a part of this trade. Get those orders in there now and let us know how you do. That's all for now. You can reach us here. Regards, Lee Let's Grab That Cash!