Disposition on TIF May 70 Call.
We are going to more our STOP on TIF May 70 call down to BUY STOP $0.60 NET DEBIT to CLOSE.
This is tecnically, the only position we should have to watch going into
tomorrow's final day of the May 2011 option cycle.
Disposition of May spreads.
all of the other positions are looking very good.
RIMM, LULU, BIG, TIF (puts) all over 10 points out of the money and should require no action.
TEX, MON, FDX, NKE, ESI, JOYG(calls) also pretty far out of the money and also should require no action.
All of these positions should expire worthless.
However, always keep in mind, if by chance anyone of these positions
should look to close in the money on tomorrow's close, we will need to
close them out to avoid assignment or having stock called away that we may
Even $0.01 in the money will be exercised or assignment ( depending if it is a put or call short position.
This should not be the case, but we must always respect Murphy's Law