Taking Profits on CHGG and LOGI Dear Savio, We're seeing a lot of red on Wall Street on this Cyber Monday, but we have a couple trades in the portfolio that are bucking the trend. Both Chegg (CHGG) and Logitech (LOGI) have jumped higher today as stocks that cater to the needs of an economy that is continuing to shift online during the coronavirus pandemic remain in high demand. This is great news for our put writes on these stocks and gives us an excellent opportunity to take some profits off the table. First, we recommend you… 'Buy to close' the CHGG December 18th $70 Put Write (CHGG201218P00070000) at market. CHGG has jumped back up to the same resistance level just below $80 that the stock hit in early November. We expect this level to hold in the short term. We will be looking at potentially entering another put write on CHGG if the stock pulls back. 
Next, we recommend you… 'Buy to close' the LOGI December 18th $75 Put Write (LOGI201218P00075000) at market. LOGI has climbed to the bottom of the gap the stock formed in early November. We are expecting the stock to pause at this level and pull back in the short term. A pull back would give us an opportunity to enter a new put write on LOGI. 
Congratulations on two great trades! Long-Term Focused Strategic Position: Right now, we only recommend selling the following covered calls or covered puts if you are already holding the underlying stock. Unless otherwise noted, we are not recommending our long stock positions for new entries at this time. If you haven’t already entered the following and can still get in for a price at, or better than, our recommended minimum/maximum, we still recommend entering: - Covered Call: (Short) AAPL December 24th $125 Covered Call (AAPL201224C00125000) for a minimum of $1.10.
- Covered Call: (Short) CSCO December 18th $43 Covered Call (CSCO201218C00043000) for a minimum of $0.35.
- Covered Call: (Short) MSFT December 4th $215 Covered Call (MSFT201204C00215000) for a minimum of $4.30.
- Covered Put: (Short) WYNN December 18th $90 Covered Put (WYNN201218P00090000) for a minimum of $3.85.
- Put Write: (Short) KO December 18th $52.50 Put Write (KO201218P00052500) for a minimum of $0.82.
- Put Write: (Short) NKE December 18th $125 Put Write (NKE201218P00125000) for a minimum of $2.40.
- Put Write: (Short) SBUX December 18th $90 Put Write (SBUX201218P00090000) for a minimum of $1.10.
- Put Write: (Short) UPS December 24th $165 Put Write (UPS201224P00165000) for a minimum of $2.50.
We are still holding the following strategic trades, but either the current value of the short option or the price action of the stock itself doesn't warrant entering a new trade at this time. If you haven't already entered these trades, we recommend waiting until further notice before opening a new position: - Covered Short Stock: Wynn Resorts (WYNN) common stock -- part of the WYNN covered put position.
- Covered Stock: Apple (AAPL) common stock -- part of the AAPL covered call position.
- Covered Stock: Cisco Systems (CSCO) common stock -- part of the CSCO covered call position.
- Covered Stock: Microsoft (MSFT) common stock -- part of the MSFT covered call position.
If put-writes and buy-writes are new strategies for you, be sure to check out our Resources page for more information. For more on these trades, be sure to attend our next weekly webinar Wednesday, Dec. 2 at 8 p.m. ET. Sincerely, 
John Jagerson and Wade Hansen
Editors, Strategic Trader
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