New Trade #2
New Trade #2 Hello Smart Option Sellers! Yup, we're going for trade #2 today. Bristol Myers (BMY) With its earnings out of the way (released yesterday) and its recently planned upcoming purchase of Celgene (CELG), BMY looks to remain one of the strongest pharmaceutical companies in the world. This will be a great put-sell trade for us. Here's the current chart. With the stock near $49 per share, we'll be getting a solid 26.5% cushion above the strike price. Here's what you can choose to do: Sell (sell-to-open) the BMY June 21, 2019 $36 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction (sell-to-open). Currently, this option has a market of $.25 bid/$.40 offer (a bit wide for my liking), so we should be able to get some sales off for at least $.25 per contract or higher. Again, pro tip: enter your sell order somewhere between the bid/ask spread, as this will help you get the best sale price. Do not sell it right at the prevailing bid price. If you do, you're giving the market-makers what they want - cheaper buy prices for them. Don't do it! Also, do not sell for anything less than $.25 per contract. Ok, that's all for now. Get those orders in and let us know how you do. 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!