Trade Update - SVU
Trade Update - Supervalu (SVU) Hello Smart Option Sellers! Quick update today. We placed a new put-sell trade on SVU yesterday. Although 100 contracts went across the tape at our price of $.25 per contract, I've yet to hear from anyone about being filled on it. I like to get actual confirmation from our members if they were filled or not. If I hear from some of you, we will call it a fill. I know 100 contracts is not a large amount, but if we have members who hold the position, we'll need to follow the trade. So if you've been filled, please contact me. As you know, my goal when initiating a put-sell trade is to get in near a low point in the stock, hoping to see it rally soon afterwards. This will then give us an opportunity to profit that much quicker on the put-sell trade. SVU stock trended down for a small bit after I put out the alert, but not enough to give the put option price a big enough boost to get everyone fillled. After that, the stock started moving higher (and still today), which has put downward pressure on the put option price. As stocks move up, put option prices move lower. Let's keep the order working "GTC" at $.25 per contract for now and see what happens over the next few days. If the stock moves lower, we may get filled. If not, I will consider tweaking the order. Not a big deal for us. Sometimes trades will work right away, and sometimes we need to be patient. There's always more trades coming down the pike. Here's the order again: Sell (sell-to-open) the SVU October 19, 2018 $10 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction (sell-to-open). That's all for now. Oh, and by the way, some of you have been asking about our put-sell position in General Mills (GIS). It has finally come back down to breakeven for us and should soon move into profitability. This has been a long ride, and uncomfortable at times. But you have to believe in the strategy, the power of time decay, and the ability of quality stocks to rebound from depressed prices. We will most likely look to close this one out in the next two weeks as GIS is releasing earnings on June 27, so no need to hold the position during the report. Congrats for hanging in there. Continue to hold all other positions as-is. Contact me here Regards,
Lee Let's Grab That Cash!