Profit Time!

Profit Time!

Hello Smart Option Sellers! Time to lock in some more gains. Gap, Inc. (GPS) We currently have a put-sell position on GPS in which the option price has now decayed down to my "80% Rule" threshold - so we're going to take the profit. Note: If you have this position in your account, then you will execute the buy-back order today. If you don't have the position, then you can disregard these instructions. Here's what you can choose to do: Buy back (buy-to-close) all of your GPS September 2017 $17 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 offered at $.06 per contract, so we should have no problem getting filled (buy-to-close) at that price. GPS stock is currently at $22.90, still putting it almost $6 above our strike price of $17. Our original entry sell price for this trade was $.32 per contract back on April 18, 2017. Closing it out now allows us to end the trade early, a little over two months before expiration. It's always a smart move to close trades profitably before expiration, if you can. It has now decayed down to $.06 per contract. That's an 81.25% decline ($.26/$.32 = 81.25%). This is when we take a profit according to my 80% Rule. Get those orders in now and let us know how you do (if you are involved with this one) and I will go over the full results tomorrow. You can contact us here That's all for today. Continue to hold all other trades as-is. Regards, Lee Let's Grab That Cash!

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