Let's Start The Week With A Profit

Profit Time!

Hello Smart Option Sellers! One of the best feelings when playing the market is when you get to lock in your gains on a trade well done. Let's go ahead and do that now. Note: If you have this put-sell 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. AT&T (T) Our put-sell position in T has decayed down to my "80% Rule" threshold level. What does that mean? It means once the put option's price has declined 80% from where we initially entered the trade (sold-to-open), we take profits by buying it back (buy-to-close). Here's what you can choose to do: Buy back (buy-to-close) all of your T October 2017 $31 put options for a limit buy price of $.05 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option is offered very well at $.05 per contract, so we should have no problem getting the trade done. You can opt to try and buy it back cheaper by placing a $.04 bid If you wish and see if it will get filled. It traded at $.04 on Friday, so it may do it again today. Officially, we will be closing it out at $.05 per. We originally sold-to-open this put option at $.25 per contract, and it has now decayed 80% down to its current value of $.05 per contract. This is the 80% Rule that we follow. Get those orders in there and let us know how you do. You can contact us