DISPOSITION FOR TODAY'S MAY OPEN POSITIONS:
MCM MAY 2014 PORTFOLIO # 1:
The following positions below are all from 1 â€“ 4 points out of the money and once again, should require no action and should expire worthless on Friday.
The issues are listed below:
LEN(calls), AMBA(calls),TCK(calls), BX(calls) as well as ANN(puts), SHLD(puts), ABBV(puts),YHOO(puts),DAL(puts) and GPS(puts) are all currently out of the money and look to be safe and should expire on Friday.
However always be prepared to close out any of these positions that might change and look to potentially closing in the money, be sure to close them before the close of the market on Friday.
Once again the issues above should expire worthless on Friday and should need no action in Portfolio #1, unless a â€œMurphyâ€™s Lawâ€ transpires where you might need to close out a position.
MCM APRIL 2014 PORTFOLIO # 2:
Issues we will need to WATCH and may have to act on in Portfolio #2: NONE
In Addition, the issues below should expire worthless and should need no action in Portfolio #2, unless a â€œMurphyâ€™s Lawâ€ transpires where you might need to close out a position.
These positions below are all from 2 - 12 points plus out of the money and should require no action and should expire worthless TODAY at the close.
AXP(calls), ROST(calls), ADBE(calls)
KORS(puts), ASML(puts), QCOM(puts), SNDK(puts), URI(puts)
MCM APRIL 2014 PORTFOLIO # 3:
Issues might have to watch closely going into tomorrowâ€™s close in Portfolio #3:
PHM(calls) - The PHM 19 call is $0.18 out of the money and only needs to be acted
On if PHM looks to close above $19 on Friday, if not the PHM spread should expire worthless.
APOL(calls) and APOL(puts) â€“ IRON CONDOR - - The call side is $0.27 out of the money And the put side is $0.73 out of the money.
IF APOL closes between $28 & $29 both the calls and puts will expire worthless and nothing will need to Be.
However, if APOL closes above $29 you will have to close out the short call before Fridayâ€™s close.
If APOL looks to close below $28 you will have to close out the short put side before Fridayâ€™s close.
Either way, the APOL call or put side will EXPIRE and if we close between $28 and $29 BOTH the calls And puts will expire and you need do nothing.
The issues below should expire worthless tomorrow and should need no action in Portfolio #3, unless, as I always mention, a â€œMurphyâ€™s Lawâ€ event transpires where you might need to close out a position unexpectantly.
These positions below are all from $0.20 â€“ `$2.00 plus out of the money and should require no action and should expire worthless at the close of the market on Friday
SLV(calls), OSTK(calls), KBH(calls), DANG(calls), GDX(calls)
If any issue should look to close in the money, be sure to close out that position before the close of the market on Friday, if you do not and that option is even $0.01 in the money, you will either have stock called away that you do not have ( short a call position) or get assigned stock that you may not want (short put position).
The MCM JUNE 2014 watch list and Portfolio will begin being posted after the close of the market on Friday right after the May monthly options come off of the board on Friday.
Be sure to cure close any position out that looks to close in the money before the close of action and the market today.