Time To Take Some Profits

Profit Time! Hello Smart Option Sellers! While we wait for new put-sell trades to emerge, let's be smart and take some money off the table. Oracle (ORCL) We currently have a put-sell position in ORCL that has decayed down to about my "80% Rule" threshold. This rule states that if the price of the put option has lost 80% of its value, we will take early profits on it. Considering that ORCL releases earnings after the closing bell tomorrow, and expiration is still three months away, let's lock in the gains now. We'll be able to nail down 76% of the price decay, which is close enough for me to my 80% level. 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 ORCL March 2018 $37 put options for a limit buy price of $.07 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option is offered at $.07 per contract, so we should be able to get some right off the bat. I don't expect earnings to give us any surprises, so if you don't get filled before the close tomorrow, it should not be a problem to get filled the next day. Get those orders in now and I will go over the results tomorrow. You can contact us here