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MCM FEBRUARY 2013 DISPOSITION OF OPEN POSITIONS FOR TOMORROW

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MCM FEBRUARY 2013 Final disposition for Friday expiration.

PORTFOLIO #1:

Issues to watch:

DTLR - We will need to watch DLTR as we have a butterfly on this position at the $40 strike price, hence we will have to close out either the short $40 puts or the short $40 calls depending on which side of $40 that DLTR looks to close tomorrow.

VHC - Is only $0.08 in the money, and might have to be closed tomorrow if it looks like it will close in the money tomorrow at the close of the day. If it looks to close over $35 we will need to close it out.
You can also choose to close it out tomorrow on the opening if VHC opens flat or lower, or you can wait and see how the day progresses and decide to make that decision closer to the end of trading for the day.
However, with both DTLR (put) or (call);and VHC, you will have to deal with if it the short call looks to close over $35 tomorrow at the end of the day.

JCP and BKS are all slightly out of the money, and there is a chance we might have to close one. both or none of these positions tomorrow, depending on if they are in or out of the money regarding each one's short call strike price near the close tomorrow.

Currently both JCP and BKS are out of the money going into tomorrow's close.

JCP needs to close below $20 or we will have to close it out.

BKS needs to close below $14 or we will have to close it out.

PORTFOLIO #2:

Issues to watch:

All the issues tomorrow are anywhere from 2.5 to 12 points out of the money.

We should not need any action tomorrow unless there is an unforeseeable move to the downside.

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CAVEAT: Remember if any issue looks to close in the money tomorrow, you will need to close out that position before the close of the market tomorrow.

Even if the short call or put is even $0.01 in the money you will either have stock called away from you that you probably do not have or have stock put to you that you do not want.

Once again, just in case, be sure to close out any position that might look to close in the money before the close of the market tomorrow.

If you are going to be away from your computer tomorrow and want to wait until the close to make a decision, you can always place a MARKET ON CLOSE order so that you will not get an assignment or be exercised on any short position that could end up in the money, if you are away from your computer and can not close that position.