Friday Update Hello Smart Option Sellers! Not much to report today so we will keep it short while answering a couple of questions. The recent upswing in the market has been great for our put-sell positions, as their prices are slowly starting to decay. This is exactly what we want. We just bide our time until we hit the "80 Rule" threshold. And if the market starts to decline again and we need to get defensive, then we all know how to "roll" at this point. Also, lower stock prices leads to new trades, as well. Anyway, if you haven't been filled on some of the recent trades, just continue to work your orders "GTC". Q&A Q: Hi Lee; Re: AMD - I got out at 16c. I was tempted to ride it out but I deferred to your call. That's what we pay you for. At first I tried for 15c for 20 minutes. What would you suggest as a wait time? A: Wait time is more of a gut feel and finesse. Since the option price is very dependent on the stock price, if you have time to watch the movement of the stock, you can adjust your option price accordingly. But if I had to ballpark it, and the stock isn't moving around too much, then I'd say wait 10-15 minutes before changing the price. Q: Lee- Just wanted to verify something...... On the PUTS we sell GTC......are we obligated to purchase stock if it at ANY time dips below the strike price before or at the expiration date???? A: Technically yes, we're on the hook at any time the stock dips below the strike price. But as I've written numerous times in the Q&A, the chance of that happening before expiration is extremely thin. Check the January 6, 2019 Q&A alert in the archives for my latest answer to this question. Vertical Spread Trader Update We're now officially two weeks into VST and already have three active spread positions under our belts. And all are moving in our favor. If you haven't signed up yet, you can click here to get to the order page. Once again, I envision this service being a bit more active as we've expanded our stock selection to include higher-priced (yet still high-quality) stocks. Don't miss out! That's all for today. Continue to hold all other open positions as-is. Contact me here with fills, comments, questions or concerns. Have a great weekend! Regards,
Lee Let's Grab That Cash!
Current Portfolio Continue to work all other trades as instructed and continue to hold all other open positions as-is. See the Current Portfolio below for current prices & instructions. Note on the Current Portfolio - if you are a new subscriber and don't have a position yet on any of our trades, make sure you enter your order at the original recommended prices. If you are unsure or have any questions, please ask us!