Locking It In...More Profits!
Locking It In! Hello Smart Option Sellers! Let's get this Monday started with a win! Gap Inc (GPS) We currently have two put-sell positions on GPS, one of which has reached the "80% Rule" threshold. GPS will release earnings later next week on August 23rd, so it just makes even more sense to take our gains and move on. 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 and cancel any current sell-to-open orders. Buy back (buy-to-close) all of your GPS September 21, 2018 $22 put options for a limit buy price of $.06 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.05 bid/$.06 offer, so we should be able to get a bunch right off the bat. With our official sell-to-open price of $.30 per contract, the 80% Rule would have us buy it back at $.06 per contract or cheaper. If you don't get filled today, just keep your order working in the market GTC. Get those orders in now and let us know how you do. Remember, if you were never filled on the original GPS sell-to-open order, then you will outright cancel it now. You also will not execute the buy-back order listed above. That's all for now. Continue to hold all other positions as-is. Contact me here Regards,
Lee Let's Grab That Cash!