Trade update: Unfortunately our luck ran out. The market has become increasing disappointed with tech company earnings reports which have missed earnings and revenue figures with poor outlook.

Twitter (TWTR) shares fell 20.8% yesterday to an eight-month low of $30.75 after earnings this is below the recommended stop loss at $34. If you sold the November 15, $38 puts on September 24 recommendation, exit the position by buying, to close, the November $38 puts today. This is a loss of 16.3% on the trade.

No strategy will be 100% successful with selling options for income we should be able to achieve 90%+ success rates which more than makes up for any losses and provides extra income to investors than buying and holding.