Trade Update - Kellogg

Trade Update - Kellogg (K) Hello Smart Option Sellers! We placed a new put-sell trade yesterday on Kellogg. I was very excited about this play, and with the stock trading lower throughout the day, I was very confident that we'd be able to sell the put option at our recommended price (lower stock = higher put option prices). Well, it didn't exactly work out that way. Talk about frustrating. Even with the stock moving $1.90 per share lower late in the day, the $52.50 put option just would not budge from the $.20 bid/$.25 ask market. I almost couldn't believe what I was seeing. In my opinion, we should've been able to sell the put option for at least $.30 per contract (instead of $.25), as the stock kept dropping lower. Right now, the market on the put option should be $.25 bid/$.35 offer. Here's a screenshot taken right after the open this morning of the Kellogg put options for June 2018: