Trade Follow-Up - Alcoa

Trade Follow-Up Hello Smart Option Sellers! Alcoa (AA) Grrrr!!! I hate missing out on trades!!! Not long after the new trade alert hit your inboxes yesterday, AA stock started to climb to the tune of $1.40 per share higher, thus preventing us from getting filled. It quickly went from $45 per share to $46.40 per share. And this morning, it even climbed to $47, but has now backed off to its current level of $46.65. Now, I mentioned in a previous alert that I try to time these trades to the point where I believe the stock is getting ready to move higher. In getting that timing right, it will allow us to make a profit that much quicker. Problem is, we need to get into the trade first! Which hasn't happened yet. Our only consolation is that we at least know our stock picking abilities are working. To be fair, there was a block of a 10-contract trade that went across the tape yesterday at our price of $.25 per contract very soon after you received the alert. This was executed by a Smart Option Seller member who emailed us to let us know. Although we had someone who got filled, I cannot call a one-person trade as official because not enough members were able to do the same. But at this point, I am obligated to follow the trade. I will bookmark the fill with an asterisk and follow it in the portfolio. Let's keep the order working "GTC" for now and see if we can get lucky over the next week or so. We would need the stock to drop a bit in order for the put options to go back up in price. Let's see if that happens for us. Friday Q&A Q: Hi Lee, I bought one protective put, Feb 130 on OA. I have never encountered option spreads before: zero experience! I hope I did the right thing. Another scenario: Why not exercise the call @ 80 and keep writing covered calls on the equity like