Profit Time!

Profit Time! Hello Smart Option Sellers! The bounce in the market that started on December 26, 2018 is still intact. It's been quite impressive, actually. But with the steep oversold conditions that occurred, a bounce was inevitable. The question is - will it last? Is this the start of the new uptrend? I'm not sure the bears are willing to give up that easily, as I think we'll still see a little more back and forth, up and down action. Regardless, this recent upswing has helped our current put-sell positions move in the right direction and it's time to close out our first winner of 2019. Nike (NKE) We currently have a put-sell position in NKE that has reached the "80% Rule" threshold. I've already heard from a handful of you who've closed this trade out profitably ahead of time. I applaud your proactive behavior. Now it's time for the rest of us to do the same. Here's what you can choose to do: Note: you will only execute this 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 NKE January 18, 2019 $62.50 put options for a limit buy price of $.05 per contract or cheaper, GTC, as a closing transaction (buy-to-close). Currently, this put option has a market of $.04 bid/$.05 offer, so we should be able to get some right off the bat. If you don't get filled right away, just keep your order working "GTC". I understand this position expires in 10 days, and to some it may seem silly to buy it back when it seems almost a guarantee that it will expire worthless. What's the point of paying $.05 per contract and spending a commission if it's going to expire worthless? I totally get it, considering that NKE stock is at $76.75 per share, putting it $14 above the $62.50 strike price. Here's why we're still going to close it out now: 1. We're following our plan (80% Rule). 2. We've seen how fast stocks can drop. I'd hate to give back a profit. 3. Some brokers don't charge a commission on options priced $.05 or cheaper. You are certainly free to play this trade however you wish. If you want to hang on for another 10 days and collect the extra $5 per contract profit, you are more than welcome. But, officially, we are sticking to the plan and closing out the trade. Get those orders in there now if you wish and let us know how you do. That's all for now. Continue to hold all other open positions as-is. Contact me here with fills, comments, questions or concerns. Regards,