Market Update

Market Update Hello Smart Option Sellers! Clearly we are not done yet with the market selling. It can be swift, fierce and unrelenting. It's also very scary to watch. If you've been a market participant for many years, the pattern is typical - months and months of upside action is wiped out in just a few short days. It's always faster on the down-move than the up-move. That's because everyone hits the exits and panics at the same time. But just when it seems to be at its worst, that's when cooler heads prevail and the rallies can occur (happening as I type). This is also why there's no need for us to panic with our trades. Yes, our put-sell positions are underwater at the moment, but every stock price still trades above the strike price. Remember, as long as the stock price remains above the strike price, we won't have to do anything. The question is: are you still comfortable potentially buying the stock if it comes down to that? AMD Sells Off AMD released earnings after the close yesterday and was knocked for a loop. It's currently down close to $3.50 per share, and trading near $19.50. That's a full $8.50 below its price when we jumped on the put-sell trade a few weeks ago. Sure, when we sold the $15 put options, the stock was at $28 per share. We felt really good about that $13 cushion. But now that the stock has dropped below $20, it seems more of a possibility that we could eventually buy the stock at $15 per share. Are you still comfortable with that? When selling put options like I do for Smart Option Seller, it's my goal to not only engage with top quality stocks, but it's also important for me to pick desirable levels to potentially purchase these stocks. If we want to build a long-term portfolio of quality stocks, it's best to scale in at low levels relative to where the stock has been in the past. Yes, it may feel like everything is going down th