Trade Adjustment Part II - Kellogg
Trade Adjustment Part II - Kellogg (K) Hello Smart Option Sellers! Let's follow-up on my trade adjustments on Kellogg. I sent two alerts yesterday, one in the morning about how we were only able to get a few put-sells off on Kellogg even though the stock kept dropping over the last two days. This was very frustrating for me because as stocks drop, the put options will rise in price. We were not seeing that with Kellogg, and I felt the market-makers were "leaning" on our order and not filling us. I sent a second alert near the end of the day yesterday to have everyone who hadn't been filled to pull their put-sell order. This was done in the hopes of letting the market know that we weren't going to keep offering a below-market price on the put option. If Kellogg stock keeps dropping, this would force the market-makers to increase their bid price, allowing us to come back in and sell for hopefully a better price, or at worst, the price we were trying to sell for yesterday ($.25 per contract). As I type, Kellogg stock is down once again this morning, and finally the straggling $.25 offers have been bought and now the $.25 bids are there. Here's what you can choose to do: Sell (sell-to-open) the K June 2018 $52.50 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction (sell-to-open). This was the same as our original order, but with the stock down another $1 per share, maybe we can get $.30 for our sell price, as both $.25 and $.30 per contract have traded so far today. At a minimum, you can sell for $.25 per contract today. Get those orders in and let us know how you do. Look for the Q&A alert later today. That's all for now. Contact me here Regards,
Lee Let's Grab That Cash!