New Trade! Hello Smart Option Sellers! Happy Friday! Let's start off the weekend with a new trade. Micron (MU) I love the chip sector, of which MU is a big part. Technology is moving at the speed of light, and it's only going to keep moving. The chip stocks such as MU, INTC & AMD, are all going to be part of that movement, regardless of whether our trade issues with China works out or not. MU released earnings earnings after the bell yesterday and the stock is getting hit to the downside by about $4.50 per share. You know how I love when solid companies take a temporary beating. And it will be temporary. This drop in MU is a gift for us and we're going to hop into a new trade today. Here's the current chart. With the stock near $44.10, we're aiming for a strike price with a $16 cushion, which equates to a fat 36% buffer. That's a great put-sell scenario. Here's what you can choose to do: Sell (sell-to-open) the MU January 17, 2020 $28 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 $.27 bid/$.31 offer, so we should be able to sell these for better than $.25 per. Do not sell for anything less than $.25 per contract. That's all for now. Get those orders in there and let us know how you do. Continue to hold all other open positions as-is. Contact us here with fills, comments, questions or concerns. Regards,
Lee Let's Grab That Cash!