Trade Results - GIS

Trade Results - General Mills (GIS) Hello Smart Option Sellers! Yesterday we closed down our put-sell play on General Mills. As much as I hated to do it, I just wasn't comfortable with how the market-makers were keeping the option prices so high. There must be a lot of fear out there that GIS might tank in the near future because our position should not have been worth more than $.05 per contract at this stage of the game. Earnings come out next week and the option pricing is predicting a big move, it seems. We'll have to wait and see. Anyway, we were filled on the play and it is now closed. Here's what we did: Bought back (bought-to-close) all of the GIS July 20, 2018 $40 put options for an official buy price of $.27 per contract as a closing transaction (bought-to-close). A majority of the fills between yesterday and this morning have come at an average price of $.27 per. Some of you may have done a penny better or a penny worse. Either way, the trade ended up as a wash (technically a penny per contract profit). This was kind of a frustrating position for us but we stuck it out and ended with no damage. Even with the stock price higher today, there seems to be no pull-back in the option price. Personally, I'm so tempted to sell these put options as their pricing just seems too expensive to ignore. But, maybe the market-makers know something we don't. Anyway, let's move on a focus on finding new plays. That's all for today. Continue to hold all other positions as-is. Contact me here Regards,