Locking In Profits
Profit Time - Overstock.com (OSTK) Hello Smart Option Sellers! Earnings season is kicking into high gear this week with many notable companies reporting in the next few days. We currently have a put-sell position on Overstock (OSTK) which will be reporting later this week as well. Let's see if we can close out the trade and lock in our gains. Here's what you can choose to do: 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. Buy back (buy-to-close) all of your OSTK March 2018 $15 put options for a limit buy price of $.05 per contract, Day-Only, as a closing transaction (buy-to-close). Currently, this put option has a market of no bid/$.10 offer. I've seen this thing trade at $.05 per contract on and off over the last few days, so let's see if we can buy some at $.05 per. I have to believe since there is no bid showing, we should get filled if we throw in a $.05 bid. Whoever is offering $.10 probably will sell to us at $.05, but they don't want to tip their hand and show a $.05 offer. These are just some of the games played by the market-makers. Please note that this is not a "GTC" order. This order is a "Day-Only" order, which means if you are not filled by the end of the trading day, the order will cancel itself out. Make sure you place your order with the Day-Only designation. I will give instructions tomorrow if we need to re-submit the order. I dont want us to place it GTC because I don't want to tip our hand yet either. So get those orders in now and I will go over the results tomorrow. Let us know how you do. Continue to hold all other positions as-is and continue to work all other unfilled trades as-is. That's all for now. Continue to contact me here Regards,
Lee Let's Grab That Cash!