New Trade! And Profit Results - VZ

New Trade! Hello Smart Option Sellers! Hope everyone had a great weekend. Let's jump into a new trade today. Colgate Palmolive (CL) A newcomer to the Smart Option Seller wish list - we've yet to play this household name, but let's see if we can get it done today. CL stock is currently near $73.30 per share, and we're aiming for a strike price just above our $50 threshold. Here's the current chart. If filled, it will give us an $18.30 downside cushion, which equates to a 25% buffer. Here's what you can choose to do: Sell (sell-to-open) the CL January 17, 2020 $55 put options for a limit sell price of $.25 per contract or higher, GTC, as an opening transaction (sell-to-open). Currently, this put option has a market of $.20 bid/$.35 offer, so let's see if we can get these done. Remember, try to place your offer price somewhere in the middle of the bid/ask spread to start. Don't jam the offer price immediately at $.25 per contract. Be cool about it. Maybe start at $.30 offer price and then incrementally move it down a penny at a time if you have the time and means. In the end, do not sell for anything less than $.25 per contract. Profit Results - Verizon (VZ) We had no problem getting filled on Friday's buy-back trade on VZ. Trades went across the tape at our target price of $.05 per contract, so we'll mark it as the official price. Here's what we did: Bought back (bought-to-close) all of the VZ October 18, 2019 $45 put options for an official buy price of $.05 per contract as a closing transaction (bought-to-close). If you didn't place your order on Friday, you can still do so today and get filled at even cheaper prices. I'm seeing this option contract hovering around $.04 per contract. Let's go over the profit details: We originally established (sold-to-open) this put option on May 1, 2019 for a sale price of $0.28 per contract, and now we took gains by buy