Profit Results - EMR & SYY... And Even More Profit Time!
Profit Time...Again! Hello Smart Option Sellers! Lots to go over this morning, but first let's lock in some more gains. Another one of our put-sell positions has reached the "80% Rule" threshold. CSX Corp (CSX) I mentioned in yesterday's alert that CSX was reporting earnings results after the bell. They came out with pretty good numbers and the stock will be higher this morning. This is great news as it will push the put option prices lower and allow us to lock in the gains. 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 CSX November 15, 2019 $50 put option contracts for a limit buy price of $.05 per contract, GTC, as a closing transaction (buy-to-close). Currently, this put option is offered at $.04 per contract, so we should have no problem getting filled. I've even seen it trade for $.02 per contract so far today. Remember, when you get to your trading screen, check the bid/ask quotes so you know what price to place your buy-back order for. Do not pay more than $.05 per. Emerson Electric (EMR) Now, onto our trade results from yesterday's buy-back trade on EMR. We had no problem getting filled at $.05 per contract or cheaper. In fact, there were a number of trades that w