Which 'action to take' setting should I choose? Sell to Open?

All of the Income on Demand option recommendations (puts and calls) will have the expiration date of the third Friday of the month of expiration. For example — for an option in the month of December 2016, the expiration date would be the third Friday of this month — 12/16/16.

The expiration dates are built into the options ticker symbols to simplify expiration dates.

You can find a great options cheat sheet here to help you learn the basics!

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