New Trade!

New Trade!

Hello Smart Option Sellers! We've been a little quieter this week. Sometimes there's just not that much to do in regards to our portfolio. When selling put options, much of our time is spent waiting on the sidelines for the option price to decay. Not much you can do to help it along. Just sit and wait. At the moment, all of our four open positions are in the black (or green) and decaying down to my 80% Rule threshold. A little more time and patience and we'll be taking profits on those trades in a short while. So while we wait, let's hop into a new trade. Oracle Corp. (ORCL) A favorite of ours back in The Instant Money Trader days (my old service), we sold puts on ORCL numerous times, all leading to profitable outcomes. We've yet to sell any puts on ORCL here at The Smart Option Seller since launching in January, but today that all changes. ORCL stock just hit a new all-time high just last week of $53.14 on September 14th. Here's a current look at the daily chart. It has since pulled back about $5 per share to it's current price of $48.25, and seems to be trying to form a base here. We're going to go a little further out in time on this trade only because it will give us a bit more downside cushion. When you use a further-dated option, it allows you to choose strike prices farther away from the current stock price, hence, it gives you more margin for error. And error in this case = more downside protection to us. That's always a good thing. ORCL is a great company and I really like us getting into this trade. Here's what you can choose to do: Sell (sell-to-open) the ORCL March 2018 $37 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction (sell-to-open). Currently, this put option has somewhat of a wide market of $.27 bid/$.34 offer, so we'll have no problem getting filled at a price higher than $.25 per contract. I implore you to NOT sell right at the current bid price of $.27 per contract. Try to place your sell order somewhere between whatever the current bid/ask market is when you're about to make the trade. If it's still $.27 bid/$.34 offer when you're about to make the trade, then try placing your sell price at $.31 per contract and see if someone bites. If not, you can move your offer price down incrementally. Have some patience. If the order doesn't get filled, then you can eventually sell at the bid price. My goal is to get you to try this method as it will help you to not only get the best sell price, but to be a smarter option trader as well. That's all for now. Get those orders in there and let us know how you do. You can reach us here I will send out another alert later in the day with the Q&A, along with some other items. Continue to work all other trades as instructed and continue to hold all other open positions as-is. See the Current Portfolio below for current prices & instructions. Quick note on the Current Portfolio - if you are a new subscriber and don't have a position yet on any of our trades, make sure you enter your order at the original recommended sell prices. Do not enter any order unless the current price is at, or higher, than the official recommendation. If you are unsure or have any questions, please ask us! Warren Buffett Report I continue to get good feedback on this new report, so I'll keep this notice going for the time being so everyone has a chance to see it. Here's an article about Warren Buffett that might give you another reason to have a look at it. If you need the link again, click here to read about it. Regards, Lee Let's Grab That Cash!

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