Friday Update

Friday Update Hello Smart Option Sellers! Sorry for the late alert. We're gotten plenty of fills that went across the tape on our new Alcoa put-sell trade that I issued earlier today. I'll have the official results on Monday. Let's go over a question that came in the other day and then I'll give an update on the status of the option credit spread service we've been mulling over. Q: Hello Lee, I hope you are doing well. Hey, I just wanted to drop you a line about the option pricing. I've just been with you 2 or 3 months. I'm enjoying the service and how you run it. I actually admire the restraint to not have been jumping in the market over the last month or so when there is clearly no reason to initiate a new trade. But I did want to comment that I've had a hard time getting filled at your prices. I realized that timeliness was probably important so I have set up my email to send me a text whenever you send an alert to prompt me so that I might have more timely executions. But today, even though I was able to be in front of the screen within 30-40 min of the alert (and the price of NKE had declined an additional 0.5% in the meanwhile), the price of the put was 0.23/0.25. I make all the orders GTC and of course don't mind missing a few trades. I have the discipline to not chase the price. But it does strike me that there's not much wiggle room with your prices. Perhaps a little more cushion in prices (ie, letting bid be $0.28 but using $0.25 as subscriber limit, for instance) would enable a few more fills. Otherwise, I'm coming to expect that I may not be able to participate in more than half of the trades. I can usually get an order entered within an hour of the alert -- sometimes sooner. It may just be that you have enough of a subscriber base that you're moving the market before I can pull the trigger. I wonder if otherwise putting in a cou