Profit Time! Hello Smart Option Sellers! Let's start this week by locking in another winner, as one of our put-sell positions has reached the "80% Rule" threshold. Oracle Corp (ORCL) Back on June 26, 2018, we sold the ORCL December 18, 2018 $33 put options for a sale price of $.25 per contract. It is now worth $.05 per contract, effectively losing 80% of its value (80% Rule). When that happens, we buy it back to close it out and lock in the gains. 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. Here's what you can choose to do: Buy back (buy-to-close) all of your ORCL December 18, 2018 $33 put options for a limit buy price of $.05 per contract or cheaper, GTC, as a closing transaction (buy-to-close). This put option has traded at $.05 per contract recently, and currently has a $.04 bid/$.06 offer. We'll place our buy order right in the middle at $.05 per contract, so let's see if anyone wants to play with us. 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 ORCL 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!