Disposition of open positions for October expiration Friday.

The following is the necessary action that we will need to take for tomorrow's October's expiration in regards to our open positions.

The following issues are not on the watch list and should expire worthless:

SUN, WHR, X, RIMM, DB (calls), DB (puts)

Issues that we may have to watch in case of an extra ordinary move or the underlying issue. However, the spreads on these underlying should in all probability also expire worthless.

CI and RIMM

ISSUES WE WILL NEED TO ACT ON TOMORROW.

SAP - The short SAP Oct 55 call position is $2.39 in the money as of the close today. We will have to close out the short position for for between $2.40 - $2.60, but we should still be able to get around $0.30 - $0.45 for our long position. So we are looking to close the spread for a NET DEBIT of $2.17 - $2.30 tomorrow.

DIS - The short DIS Oct 32 Call is $1.84 in the money as of the close today. We will have to close out the short position for for between $1.82 - $1.88, but we should still be able to get around $0.19 - $0.21 for our long position. So we are looking to close the spread for a NET DEBIT of $1.66 - $1.70 tomorrow.

PRU - The short PRU Oct 50 Call is $1.75 in the money as of the close today. We will have to close out the short position for for between $1.80 - $1.96. but we should still be able to get around $0.25 - $0.30 for our long position. So we are looking to close the spread for a NET DEBIT of $1.63 - $1.71 tomorrow.

If be chance you are having difficulty filling any of these spreads to close as spreads, you can also close the short side and sell the long side to close if the long call premium has any value of substance left during tomorrow.

Of course, these prices are subject to change depending on how these stocks trade for the day. These issues could open higher or open lower and therefore chage the premiums we would need to pay to close out the spreads.Hence we could better of worse price fills


REMEMBER: Any short positions needs to be closed prior to the close of tomorrow's trading. Any position that is $0.01 in the money of more we be called away from you if you are short calls or put to you if you are short puts ( only one potential situaion on the put side this expiration which is the DB put spread.). This is something that you do not wish to occur since you do not own the underlying security.