Friday Update

Friday Update Hello Smart Option Sellers! Happy Friday! The market continues to push higher and all of our put-sell positions are moving in the right direction. Earnings season is drawing to a close, so I don't foresee too many more companies giving us negative surprises that could lead to new trades. It may start to slow down at this point as the time between Thanksgiving and New Year's can lead to smaller moves. A Smart Option Seller member did write in recently and asked about the down-move in Cisco (CSCO) yesterday. Yes, a move like that would usually trigger us into a new play, and I've been watching it. But I have a feeling we may see more downside in CSCO over the next few days or so. If it looks like it's exhausted, we may jump in. Good eye! We also received an email about the Gap (GPS) position that we recently unwound. Of course, just like Murphy's Law, the stock continued to push higher after we sold out. How does that happen? There is definitely the "market monster" that always knows. If you are still in the trade, it is moving in your favor. It is up to you at this point to decide to hold or get out. GPS releases earnings next Thursday (11/21) after the close, so I would suggest closing it out by then to be on the safe side. If the one-day options look cheap enough that day, maybe we'll take a stab at buying some to see if we can capitalize on any large, unexpected move. Yes, "revenge" trading at its best. Don't know what revenge trading is? I believe we've all been there. It's when you've just gotten out of a trade for a loss and try to trade frantically in and out of the same position to try and make up for the loss. It just usually ends in more losses. Sad. Anyway, we'll see. If it only costs a few bucks to play, maybe we will. Not much else going on today. I'll check back in next week. That's all for now. 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!

Recent Posts
Archive

THE SMART OPTION SELLER

©2016-2020 Smart Option Seller                Lee Lowell