New Trade - Let's Go!

New Trade! Hello Smart Option Sellers! Happy Friday! Time for a new trade. General Mills (GIS) Some of you may have read the news this morning about GIS. They made a deal to buy pet food company Blue Buffalo for $8 billion. That's a lot of cash! But apparently the pet food business is booming, especially for the natural ingredients end of it, of which Blue Buffalo is a big part of. With the announcement this morning, GIS stock has fallen as much as $3.30 per share lower, but has since been bouncing back. Here's the current chart. Let's take advantage of the drop and hop into a new trade before the rally ensues. Here's what you can choose to do: Sell (sell-to-open) the GIS July 2018 $40 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction. Right now, the $40 puts have a market of $.28 bid/$.40 offer, with a fair value of roughly $.32 in my opinion. I'm confident you can sell this put option for better than $.25 per contract. If you get in now, you can sell for a minimum of $.28 (which is the bid price). Try to put in an initial offer of $.35 per contract and see if someone bites. Incrementally move your offer lower if need be. You could probably get $.30 per contract easily if the stock stays put for awhile. Funny enough, we made a put-sell trade on GIS in February 2017 last year when the stock was at $59.50 per share and we sold the $47.50 put strike. Today, with the stock about $7 lower, we're selling a $7 lower strike price as well. History repeats! Get those trades in now and let us know how you do. That's all for now. I'll have the Q&A alert out later today. Continue to contact me here Regards,

Lee Let's Grab That Cash!