Trade Update - HACK
Trade Update - Hack Cyber Security ETF (HACK) Hello Smart Option Sellers! Well, we gave it a shot with HACK, but came up a tad short. Only a 10-lot trade went across the tape yesterday at our sell price of $.25 per contract, and it was one of our Smart Option Seller members (they emailed me). Now, I can't call the trade official yet because a 10-lot is not enough volume to justify it. Obviously since one of our members was able to get in, I have to follow it, but we are going to continue to work the trade GTC for a few days to see if the rest of us can get filled. If we don't, I may tweak the strike price. Even though we've had a solid snap-back rally in the market recently (which is good), we're bumping up against resistance on the charts, which means we could see a pull-back very soon. If this happens, HACK stock could move lower as well, which should bump up the put option prices in the process. In this case, I'm thinking we could see more fills on the put-sell trade. Until then, here's the trade again, and remember, half size only! And, DO NOT sell for anything less than $.25 per contract. Sell (sell-to-open) the HACK June 21, 2019 $26 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction (sell-to-open). That's all for now. Look for a short Q&A later today. Continue to hold all other open positions as-is. Contact me here with fills, comments, questions or concerns. Regards,
Lee Let's Grab That Cash!