Time For More Profits!
Let's Lock It In Hello Smart Option Sellers! I'm back from spring break and ready to go! Seems the volatility in the markets is still persisting, but over the last week, we really haven't gone anywhere. I checked in from time to time and saw the large swings, and was tempted to send an alert. But, as I mentioned, we really finished last Friday at almost the same place it finished the prior week. This is helpful to us because our current put-sell positions still lose value everyday (time decay). And with the stocks staying relatively unchanged, it helps our cause even more. Remember, we want the put options to get cheaper so we can buy them back for a profit. As of now, we have two positions that are pretty close to our "80% Rule" threshold, so let's go ahead and try to lock them in for gains. The 80% Rule states that when an option has decayed 80% from where we originally sold it, we buy them back for gains. Here's what you can choose to do: Note: If you have these put-sell positions in your account, then you will execute the buy-back orders today. If you don't have the positions, then you can disregard these instructions. Hack Cyber Security ETF (HACK) Buy back (buy-to-close) all of your HACK June 18, 2018 $26 put options for a limit buy price of $.05 per contract, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of zero bid/$.10 offer, so let's see if we can get it done. It has recently traded at $.05 per over the last few trading sessions, so I'm hoping we can do the same. If you don't get filled today, just keep your order working "GTC". Merck (MRK) Buy back (buy-to-close) all of your MRK April 20, 2018 $47.50 put options for a limit buy price of $.05 per contract, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.04 bid/$.13 offer, so let's see if our $.05 bid will entice anyone to play with us. There is only 11 days before this put option expires and the stock price ($54.70) is over $7 above our strike price of $47.50. I'm actually quite shocked that a stalwart like Merck is still seeing an 11-day option that far out-of-the-money with as much value as it currently has. In my opinion, it should be offered at $.05 per contract right now. Regardless, let's see if we can lock it in. Our other April 2018 option that also expires in 11 days is BIG. I'm still keeping an eye on that one. Our strike price is $40 and the stock is at $43.15, so it's still going to be a race against time. Keeping us on the edge of our seats! That's all for now. Continue to contact me here Regards,
Lee Let's Grab That Cash!