Profit Time!

Profit Time! Hello Smart Option Sellers! We have a decent sized portfolio right now with 13 open put-sell positions. I'd like to lighten it up a bit which will free up margin money for many of you. This will allow the entry into new trades with fresh capital to deploy. Although we typically aim to hit my 80% Rule when taking profits, we will be taking slightly less than that on these trades today. Here's the plan: Merck (MRK) We just entered a new put-sell play on MRK the other day (some of you still have orders in), but we also have an older position that I'd like to close out now. Here's what you can choose to do: Buy back (buy-to-close) all of your MRK July 20, 2018 $45 put options for a limit buy price of $.07 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.05 bid/$.07 offer, so we should have no problem getting filled. Maybe you'll even be able to buy it for $.06 per contract. Lowe's Corp. (LOW) This position has decayed nicely as well, and it's time to lock it in. Here's what you can choose to do: Buy back (buy-to-close) all of your LOW July 20, 2018 $60 put options for a limit buy price of $.08 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.06 bid/$.08 offer, so we should have no problem getting filled. Maybe you'll even be able to buy it for $.07 per contract. VIX Short-Term Futures ETN (VXX) Here's a play we took on the volatility of the overall market. It wasn't a put-sell, it was a bearish call option credit spread. We wanted to take advantage of the heightened volatility in the market as I knew it would calm down in the ensuing weeks. That has happened, and now it's time to unwind. Here's what you can choose to do: Buy back (buy-to-close) all of your VXX June 15, 2018 $45/$46 call option credit spreads for a debit limit buy price of $.08 per spread or cheaper, GTC, as a closing transaction (buy-to-close). It will be easiest if you enter the buy-back as a single spread debit of $.08 per spread. This is easier than making two separate single transactions on each leg of the spread. If you need help with this one, please contact your broker, as they can walk you through it. Currently, this spread has a market of $.06 bid/$.10 offer, so let's see if we can get it done. It may take a few days, but if the market continues to stay steady or rally, we should have no problem getting filled. Get those orders in now and let us know how you do. We should also have an opportunity in the new few days to weeks to close out some of our other trades for profits as well. Stay tuned! That's all for now. Continue to hold all other positions as-is. Contact me here Regards,

Lee Let's Grab That Cash!

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