Profit Time! Hello Smart Option Sellers! Happy Friday! Let's start this weekend off with a profit-taking trade. One of our positions is right on the cusp of my "80% Rule" threshold, so I'd like to lock in the gains before any potential weekend rumblings could cause selling on Monday. It seems that the weekends have become very treacherous of late, thanks mostly to our U.S. president and his tweet storms. Anyway, let's get to it. Merck (MRK) Depending on what price you sold the MRK put-sell trade for, you might be at the 80% Rule threshold. Here's what you can choose to do: Note: you will only execute this buy-back 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 MRK November 15, 2019 $60 put option contracts for a limit buy price of $.06 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.05 bid/$.06 offer, so we should have no problem getting it done for $.06 per. If you care to wait it out a bit longer, you are more than welcome to do so. Or, you can even hang on until expiration, if you wish. Officially, we will be closing out the trade today. Remember, do not pay more than $.06 per contract. Ok, that's all for now. Get those trades 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. Have a great weekend! Regards,
Lee Let's Grab That Cash!