Profit Time!

Profit Time!

Hello Smart Option Sellers! Thank you for the replies to my questions yesterday about potential new services that we may offer in the future. I'll need more responses though in order to make an assessment if it's worth doing. If you haven't responded yet, make sure to re-read yesterday's alert to let me know your thoughts. Thank you! Verizon (VZ) We've reached our profit threshold on the VZ trade.

This occurs when the option has decayed to hit my "80% Rule" level. What's that? When a put option has lost 80% of its value from where we initially sold it (sold-to-open), we look to buy it back (buy-to-close) to take profits. So 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. Here's what you can choose to do: Buy back (buy-to-close) all of your VZ October 2017 $39 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 at $.05 per contract, so we should have no problem getting the trade done. It has already traded at $.04 per contract today, 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. Officially, we will be closing it out at $.05 per. We originally sold-to-open this put option at $.28 per contract, and it has now decayed 82% down to