More Profit Time... And AA Results

More Profit Time! Hello Smart Option Sellers! If you've watching the stock market over the last few days, you may have noticed healthcare stocks (of all kinds) have been taking it on the chin. The catalyst was United Healthcare's (UNH) lackluster earnings report the other day, which started the flow of selling to hit other insurers, drug companies, and retail drug stores. No company was spared. On top of UNH's earnings dud adding fuel to the fire, have been the calls from some Democratic presidential hopefuls for the "Medicare for all" insurance system. This is leading some to believe that it will turn the whole healthcare industry upside down and wreak havoc amongst the whole sector. C'mon, really? We've seen this scenario play out before in many other sectors, specifically retail, when it was believed Amazon would take over the world. Sure, some stocks crapped out for a few days, then cooler heads prevailed, and the stocks turned back higher again. I believe this will happen too with the healthcare stocks. They are getting very oversold here and due for a bounce. But, you can never underestimate how far and for how long some of these ideas will spread, and the rout could keep going for a tad more time. So in that vein, we are going to take profits on one of our earlier healthcare picks. Bristol Myers (BMY) We currently have a put-sell on BMY which is very close to the "80% Rule" threshold. With much of the profits baked in, it's prudent to take profits here in case the selling continues for a bit longer. Here's what you can choose to do: Note: you will only execute today's trade if you already hold the put-sell position in your account. If you don't have the position, you can disregard these instructions. Buy back (buy-to-close) all of your BMY June 21, 2019 $36 put options for a limit buy price of $0.10 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.06 bid/$.09 offer, so we should definitely be able to buy it for $.10 per contract or less. And just like what we do when selling