With less than an hour to the call. It looks like we are going to have to close out SWN and COG call spreads.
As I suggested we could roll out the positions out to March and put on an iron condor on both of these positions to recoup some of the loss.

There is only one issue and that is BOTH SWN and COG have earnings within the next week. I usually prefer to minimize earnings exposure on most recommendations, hence we will be exposing ourselves to earnings on both issues, however that is why am placing the condor spreads on both of these issues to collect two premiums ( the call and the put ).

The following condors are presented below.

We are closing the SWN Feb 34 call for $1.50 - $1.65

We are then placing the following iron condor for March on SWN.

Call side

Put side

We are closing the COG Feb 35 call for $2.00 - $2.10 p> We are then placing the following iron condor for March on COG.

Call side

Put side

You should close these condors before market close, even if you have to give up $0.05 on the credits.

Additionally, we will be probably have to close out MON on the close as well.

However, we will just close the MON FEB 80 put MARKET ON CLOSE and take no further action with the position at this time.