Six Things You Must Know About Weekend Player

We are always looking for opportunities that can make you money while reducing risk. As a result, exceptions may occur to the following rules of thumb, if we assess that there is benefit to you as a subscriber to Bernie Schaeffer's Weekend Player.

1. You Will Typically Receive One (Or, On Occasion, Two) Weekend Player Recommendation(s) Per Week. You will receive one (or, on occasion, two) Weekend Player recommendation(s) every Sunday by 7 P.M. Eastern time. There may occasionally be weeks where we decide the trading environment is not well-suited to a new Weekend Player recommendation. Rather than "forcing" trades in these situations, no new recommendation will be issued that week, and subscribers will instead receive an update on the current open positions.
2. The Recommendations Will Normally Be Priced Between $3 and $8. The recommended options will be calls or puts on an underlying stock. The recommendations will usually range in price between $3 ($300 per contract) and $8 ($800 per contract), although on some occasions a profitable opportunity will arise outside of this price range. We will provide you with the option's most recent asked price at the time of the recommendation, so you do not enter a trade at a price that is too high relative to our evaluation of a trade's profit potential and risk. Refer to the Money Management section for a further discussion of entry prices. If a recommendation cannot be purchased for a favorable entry price within the specified entry window (typically two trading days), skip it and wait for the next trade.
3. You Will Receive Target and Time-Stop Parameters on Every Trade. Each trade recommendation will be accompanied by a profit objective and a time-stop date, which will provide guidance for when we think you should exit a position. We generally do not send any additional follow-up instructions for these trades. However, in some cases, we may recommend closing a position before the profit objective or time-stop is reached. In that event, the closeout instructions will accompany your new Sunday evening recommendation. For example, if a position is near its target objective, we might recommend that you close it early. Likewise, if a position is at a small loss and is not behaving as expected, we might advise that you close it before the time-stop parameters are reached. Alternately, we may occasionally extend the original time-stop date to let winners run or allow more time for a stock's move to develop. But if you have not heard otherwise from us and your profit objective for a trade recommendation has not been achieved, you should close out your position on the time-stop date, regardless of its profit or loss level.
4. We Will Provide You with Trade Driver Commentaries. In addition to your recommendation, you will receive a commentary detailing our analysis of each recommendation. This commentary will keep you fully informed of the reasoning underlying why we are recommending the new trade.
5. Holding Periods Will Generally Range From One to Three Months. Weekend Player specializes in longer-term options with three to six months of shelf life. Typical holding periods may range anywhere from about one to three months. The position should be closed on the recommended closeout date, unless the Sunday communication recommends extending the closeout date. Positions may be closed prior to the prescribed time-stop if the stock's price action warrants this action.
6. The Number of Open Positions May Vary. The number of positions open at one time may vary. Some positions will be held longer than others, depending upon our outlook for the current portfolio holdings.