Supervalu (SVU) Follow-Up Hello Smart Option Sellers! I just want to send a quick follow-up on the earlier alert regarding SVU. It seems that maybe some of you have found the alert slightly confusing as far as which put-sell position to buy back. My goal was to have you purchase a different put option rather than buy back the $10 put option. But not both. Since SVU stock has rocketed higher due to the proposed buy-out, it wouldn't make sense to buy the $10 put when you could buy a higher strike put for the same $.05 per contract. Use the same instructions below that I sent earlier as your guide. Here's what you can choose to do: Note: If you have this put-sell position in your account, then you will execute the buy-back order today. If you don't have the position, then you can disregard these instructions. Buy (buy-to-open) any SVU October 19, 2018 or January 18, 2019 put options at the highest strike price you can for a limit buy price of $.05 per contract as an opening transaction (buy-to-open). For example, if you end up buying the January 2019 $21 puts for $.05 per contract, you'll now be long that put option while the October $10 put-sell will still be intact in your trading account. You'll now have an option spread in your account (long the $21 put, short the $10 put). This is fine. Once again, I will go over the results tomorrow. That's all for now. Continue to hold all other positions as-is. Contact me here Regards,
Lee Let's Grab That Cash!