Trade Update Part II - SVU
Trade Update Part II - Supervalu (SVU) Hello Smart Option Sellers! So we did in fact have a few Smart Option Seller members who were filled on the SVU put-sell trade at $.25 per contract the other day. I heard from them, as well as a number of others who did not get filled. I know there were only 100 contracts that traded at our price of $.25 per, and that's such a small amount. But since we have members who were able to get in, we need to officially follow the trade at this point. It's not an ideal scenario, as I know everyone wants to be involved with the trade. Some of you even emailed me to let me know that you either sold it at $.20 per contract (below our recommended price), or you used a different strike. I'm perfectly fine if you choose a different strike if it meets your risk tolerance. But I'm not okay with selling it below our recommended price. That's a no-no! When you do that, it sends a message to the market-makers on the exchange floors that we're willing to sell at any price, and that just gives them ammunition to keep their bid prices low. That doesn't help at all! So in the future, please, please, please...do not sell for anything lower than my recommended sell price. Let's continue to keep the order working GTC at $.25 per contract for those of you who have not gotten filled yet. For now, here's what we did: Sold (sold-to-open) the SVU October 19, 2018 $10 put options for an official sale price of $.25 per contract as an opening transaction (sold-to-open). That's all for now. Continue to hold all other positions as-is. Contact me here Regards,
Lee Let's Grab That Cash!