I didn't want to wait until late tonight, so the Watch list and disposition on the April positions I posted early. This is the last April Watch list as tomorrow's May watch list begins.

So until tomorrow.

Disposition of positions for tomorrow’s April Expiration cycle.

GROUP 1: Positions which should expire with no other course of actions necessary.

GROUP 2: Positions where we will need to watch and there is a chance we may have to act before the close.
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GROUP 3: Positions where action will more than probably be needed:
GROUP 1: Positions which should expire with no other course of actions necessary. They are from $0.70 to $$9.00 out of the money and their short call premiums are selling for as little as No bid to $0.06. Hopefully they should expire worthless tomorrow, provided with do not have a divine intervention with these issues.

MON –- Over $14.00 out of the money - very safe

ADBE –- Over $2.75 out of the money – very safe

AMAG –- Over $2.50 out of the money - safe

PNC –- Over $8.00 out of the money

TCK – - Over $6.00 out of the money

GROUP 2: Positions where we will need to watch and there is a chance we may have to take some action before the close tomorrow.
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VZ - Simple enough, if VZ looks like it will close under $30, you will have to do nothing, as the VZ April 30 call would expire worthless. However, if VZ looks to close above $30, you must buy back the VZ April 30 call to close out the position before the close of the market session on Friday so you do not get 1,00 shares of VZ called away from you, something I am sure you would prefer not to happen

MCO - - A little over $0.35 out of the money – but even with its low beta another move tomorrow like today would force us to have to act. Let’s hope not. We don’t need “Murphy’s Law” on the last date of expiration.

HITK - Hopefully, will not become another version of “Murphy’s Law” as the stock is sitting in the $24 plus area, less than $1.00 away with one day to expiration. The bottom line here is the same as with VZ, if HITK looks to close below $25, nothing needs to be done, however if it looks to close above $25, the April 25 call most be bought back to close out the position before the end of the session or you will have to delivery 1,000 shares of HITK, again, something that you would not want to have happen.

NEM - - This position could have 1 or 3 scenarios, depending on where NEM closes tomorrow. The bottom line: If NEM continues to trade between $52.50 and $55 tomorrow both sides of our Iron condor should expire worthless. #2, be prepared to close the April 55 Call if NEM looks to close over $55 before tomorrow’s close or #3 be prepared to close the April 52.50 put if NEM looks to close below $52.50 at tomorrow’s close. Of course if it is between $52.50 & $55, you need do nothing, which is the optimum situation for this iron condor trade.
Of course, if NEM is trading between $52.50 and $55 tomorrow any time during the day, you can choose to close out both sides of the iron condor, the April 55 call and the April 52.50 put, if you feel that the two (2) premiums debits are cheap and profitable enough for your liking.

VZ, HITK, MCO and NEM all are currently out of the money and hopefully will continue that way for at least to the close of the market tomorrow. If any remain that way the would expire worthless and nothing is left to be done. However, if any or all or these end up looking to close in the money you must close that one, two or all three out depending on which, if any might end up in the money.

GROUP 3: Positions where action will more than probably be needed:

CYOU - This was the position that “Murphy’s Law” created this month. It was profitable all month long, until yesterday. Unless it drops back under $33 we will be forced to close out this position before the close tomorrow by buying back the CYOU April 33 call to close at the end of tomorrow’s session, if not before. You might want to consider putting in a STOP on this position as it looks to be the one position with the most upside action occurring in the last 2 days. We have an April 36 long call to minimize an unexpected hit, but that was to give us a $3,000 if it was needed for worse case scenario, we want to lower that risk now to at least $2.00 if possible. So I suggest you enter a STOP to minimize the potential for any Friday surprises, if that is possible in the world of Wall street.

MSFT - We will be closing out the MSFT April 30 call at the close, if not sooner as it will more than likely end up above our Short April 30 call and would be in the money. If by some miracle MSFT should close below $30 tomorrow, nothing needs to be done, as the position would expire worthless. But you must close out MSFT if the stock will close over $30 or you will be exercised and be forced to delivery 1,000 shares of MSFT over the weekend, which you probably do not want to have occur.

SNDA - - Depending on which side of $45 SNDA ends up will determine what action we will need to take. If the stock looks to close above $45 will close out the April 45 call by buying it back before the close, if not earlier in the session. On the other hand, if SNDA looks to close below $45 we will close out the April 45 put by buying it back before the close, if not earlier in the session. Additionally, if the stock is trading near $45 during the day, you might decide to close out both sides if you think the premiums are both small enough for your liking.

REMEMBER: If any position should look like it will close in the money you must close that short position BEFORE the close of the market tomorrow.

If you are going to be away from your computer be sure to have a market on close order contingency order in place to eliminate the possibility of you getting exercised or assigned.