FINAL SEPTEMBER DISPOSITION OF OPEN POSITIONS.
POSITION(S) OF CONCERN OR POTENTIAL ACTION.
VZ - is in the money by $0.19. We will watch this tomorrow and if
it ends up in the money as it currently is, we will close it out with
MARKET ON CLOSE tomorrow.
THE FOLLOWING ISSUES ARE $0.33 - $2.51 points out of the money.
XLNX is only $0.33 out of the money and will bear watching tomorrow. If it
continues to remain under the strike price of our short 32 Call strike it will expire
worthless, however, if XLNX looks to close above $32 we will have to close it out
tomorrow. We are going to look to close this position out only if it looks to close
in the money and if so we will use a MARKET ON CLOSE order to cover out short Sept 32 Call.
RRC, VRTX, DOW, AKAM, EXPD are all out of the money from $1.63 - $2.51 and with a little
normality tomorrow these positions should expire worthless. However, we still must be prepared
to close out any short call that might end up in the money as we will get exercised ( called )
if we are even $0.01 in the money.
We look to close these positions above with a MARKET ON CLOSE ONLY if they look to end up in the money at
THE REMAINING ISSUES.
DO, TM and the COST(puts) are all $3.15 t0 over $10.51 out of the money and should
expire worthless tomorrow.
RIMM: After today's earnings after the close the stock was off over $5 and would put
our $35 short call over $10 points out of the money. Therefore the RIMM call spread should
easily expire worthless tomorrow.
Just remember "Murphy's Law", and be prepared for if anything can happen it probably will and
if it becomes necessary, besure to close out any short position that will end up in the money
tomorrow before the close. If you do not you could get excercised ( short calls ) or assigned
(short puts) if you are even only $0.01 in the money. Which means you could get stock taken
from you or assigned that you don't have or with the short put, don't want.
This should not happen with the issues that are out of the money a significant amount.
Just re aware if any surprise should happen and you need to cover a short position that
could end up in the money.
This is also the last watch list for the September cycle as they come off the board
tomorrow. Starting Friday night we will be following the October positions and begin
the October watch list.
In SUMMARY: The main issue if concern is VZ and potentially XLNX.
Watch these carefully and take the suggested action above regarding each IF NECESSARY
before the close with a MARKET ON CLOSE order, but only if they appear to be closing in the