DISPOSITION FOR FRIDAYâ€™S JUNE OPEN POSITIONS.
MCM JUNE 2014 PORTFOLIO # 1:
Issues we will need to close out and act on in Portfolio #1:
GDX JUNE 25 Call - A huge move by Gold and the GOld miners today moved GDX to over $1.06 in the money and will more than likely have to be closed
before the market closes tomorrow. If you must close the GDX June 25 Call, besure to see if
is it worth your while economically to close out the GDX June 27 long call for any credit,
if it is worth it after commissions.
Issues we will need to watch and may or may not have to act on in Portfolio #1:>
SHLD June 41 Call- is only $0.02 out of the money, so we will watch SHLD very closely tomorrow. If SHLD looks
to close above $41 we will need to act, if not you need do nothing as the SHLD June 41 call would expire worthless with close of
SHLD under $41.
If you prefer not to hold until the close tomorrow, you should exit on any down or flat opening tomorrow to close.
Issues that should expire worthless tomorrow and should need no action in Portfolio #1, unless a â€œMurphyâ€™s Lawâ€ transpires where you might need to close out a position.
ALL the four (4) positions below should require no action tomorrow and should all expire worthless at the close.
AOL June 39/41 Call spread
LULU June 47.5/50 Call spread
DAL June 34/32 Put spread
SHLD June 38/36 Put spread
MCM February 2014 PORTFOLIO # 2:
Issues that we will definitely have to close out and act on in Portfolio #2:>
Issues we will need to WATCH and may or may not have to act on in Portfolio #2:>
EMN June 87.50 put spread- $0.05 out of the money. We can hold to the close, or if
we get a gap open to the upside tomorrow close it out for a few cents ( We would probably only have to deal with the Short
$87.50 side, as the EMN 90 would have no value if the stock is trading around $87.50 tomorrow.
For those who will be away from there computers you can close out during the day or use a MARKET ON CLOSE order.
Finally, if you feel uncomfortable or the stock starts to go south against us exit immediately.
TGT June 60/62.5 call spread$1.30 out of the money, normally not a problem, but just to
be on the safe side we should watch this one as we hold the position to the close.
If your risk tolerance is less tolerant, you can decide to close it out for a few pennies if you desire during the day.
FLSR June 70/72.50 call spreadIs out of the money, but is very volatile, we will need to watch this position
to be sure it doesn't have one of those big updays tomorrow. We will need to keep an eye on this position, and if we need to act we will do so.
The FSLR June 70 call is still $1.70 plus out of the money, so if FSLR remains below $70 the option should expire worthless.
FSLR is volatile, so let's keep an eye on it and be prepared to act.
Remember: If any stock looks to close in the money against our short position. We must close it out before the
close on Friday or we could be assigned stock or have stock we might not own called away.
Issues that should expire worthless tomorrow and should need no action in Portfolio #2, unless a â€œMurphyâ€™s Lawâ€ transpires where you might need to close out a position.
All 4 positions should expire tomorrow at the close.Br>
PETM June 67.5 Call spread
URI June 100 Put spread(puts)
GLD June 129/131 Call spread(puts) -
DIS June 77.5/75 Put spread(calls) -
MCM February 2014 PORTFOLIO # 3:
Issues we will need to definitiely close out and act on in Portfolio #3:>
SLV June 19.50 - Normally, this one would have a BUY stop placed on it, but
Friday is the last day and Silver and Gold BOTH made huges surprise moves today.
the SLV June 19.50 will probably have to be closed to tomorrow, unless SLV gives back have of its gain today and closes under $19.50. if not
we will need to act sometime during the day to close out the position.
The chances of SLV closing below $19.50 are very small after today's run up and there mightr be some carry over to tomorrow.
So we should be prepared to close the SLV JUNE 19.50 sooner , rather than later tomorrow , unless we get an early sell off, which
I don't think is likely.
JCP June 9 CallIt is $0.04 in the money and we will probably have to close out
the JCP June 9 tomorrow for a few cents. The stock had a large move today, for its price roughly $0.14, so hopefully
we will get a slight pause tomorrow. If so be prepared to close out JCP if the stock looks to close above $9 tomorrow
If you want to wait this one out to the close you can, or if you get a flat or down opening, you can close out
If JCP continues its move to the upside be prepared to exit the position.
Hopefully, we will be looking to hold the position until the close or close to it.
If JCP looks to close below $9, you need do nothing, if it looks to close above $9, you will need to close
out the position for a small amount before the close.
Issues that should expire worthless tomorrow and should need no action in Portfolio #3, unless a â€œMurphyâ€™s Lawâ€ transpires where you might need to close out a position.
CLF 19/21 June Call spread.
GRPN 7/9 June Call spread.
YOKU June 23/25 Call spread.
SUNE 18/16 Put spread.
AMBA 24/22 Put spread.
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 be
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 July 2014 watch list and Portfolio will begin being posted after the close of the market on Friday right after the June options come off of the
board on this expiration Friday.