ACTION FOR TOMORROW'S EXPIRATION.
The following is the dispostion for the August positions that we still have open going into the final day of the AUgust option cycle.
All of the following positions listed below should expire worthless, unless we have some earth shattering event the moves the market
significantly 300 or 400 points tomorrow. In the absence of that event these issues should expire below.
All the positions below in blue should require no action and should expire worthless tomorrow at the close.
AU - 44.07 - we will need to watch to be sure that a run up tomorrow in gold prices doesn't push AU over our 45 strike price. We should be okay
however, please keep and eye on this position. As with any of our positions if it looks to close above the short strike price it must be closed out
tomorrow before the end of the trading day (which is the August expiration final trading day. If AU looks to close below $45, no action will be need as
the $45 short call would then expire worthless
KMX - 21.17 We will probably have to close this position out tomorrow sometime during the day, for those who see a follow through of today's sell off
you can place an order MARKET ON CLOSE to close out your short KMX 20 call if you will be away from the computer tomorrow during the close.
As with any position, there is always the chance of Murphy's Law making a guest appearance. So if that should happen, remember to close out ANY
and ALL short option positions that look as they are going to end up in the money at the close, before the close tomorrow. If you do not and the
option is even $0.01 in the money, you will have stock taken from you ( if you are short the call) or have stock put to you ( if you are short the put) That I am sure you may not want
to have happen.
Please be sure to close any position if that is the case and we have some unforeseen happening in the market tomorrow that puts one or more of our issues in the money that was unexspected.