No New Trades This Week
The extreme stock market volatility I discussed last week has materialized, so I am not issuing a new Income Millionaire trade this week. While it is tempting to write short puts on big down days like yesterday, there is as yet no good reason to believe that the near-term selling is over. We have no open option positions expiring today, and our next set of monthly options do not expire until November 16. Until then, we will proceed cautiously and be opportunistic with respect to writing new options contracts as circumstances warrant.
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Hal Tatum
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Jim Pearce
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