Friday Update Hello Smart Option Sellers! Happy Friday! Not much happening today. I mentioned yesterday that Intel Corp (INTC) was releasing earnings results after the bell yesterday, as we hold a position. Results were good, and the stock popped a few dollars higher in yesterday's after-market session. This led to anticipation that the stock would be strong today. Well, it was strong for the first few minutes of trading today and it has steadily been eroding all morning. That's why I always say earnings are a crapshoot. I've seen great earnings which result in the stock moving lower and I've seen horrible earnings but yet the stock moves higher. Go figure. Anyway, our INTC put-sell position is doing fine, and it's on the cusp of the "80% Rule" threshold. Most likely we will be able to close it out next week. The rest of our trades are all moving in the right direction, so not much to do with those at the moment. Keep holding. Quick Q&A Q: I KNOW YOU ARE ON TOP OF EVERYTHING. WHERE IS GPS GOING TO BE IN SEPT. OPTION DATE? A: Obviously I don't know where The Gap, Inc (GPS) stock price will be on the exact date of September 20, 2019 (expiration date), but I do know that our position is moving in the right direction. We currently have a put-sell position on GPS which was rolled over from a prior position. GPS stock is currently near $19.25 per share, and we rolled from a $20 strike put-sell position to our current $18 strike put-sell position. As long as GPS stock stays above $18 by expiration, we we are good. If we take full profits on the current position it will more than make up for the loss we took on the prior position. Time will tell as we have just under two months for the trade to play out. I feel confident in our chances. That's all for today. Continue to hold all other open positions as-is. Contact us here with fills, comments, questions or concerns. Have a great weekend! Regards,
Lee Let's Grab That Cash!