DISPOSITION FOR FRIDAYâ€™S NOVEMBER 2014 OPEN POSITIONS.>
MCM NOVEMBER 2014 PORTFOLIO # 1:
LULU(calls) LULU - The LULU November 45 call may need some attention tomorrow, as it looks
to close above 45 and we will have to close it out tomorrow before the close.
Depending on how the market opens tomorrow you may want to close early on a downturn or hold to see where LULU
looks to trend.
Remember if LULU looks to close above $45 you will need to close out the short LULU November $45 call before tomorrow's close.
Unless some unforeseen event should happen to the of this market tomorrow, all of the other open
positions in Portfolio #1 should expire worthless.
Positions that should expire worthless tomorrow are call spreads in: FCX, GDX and put spreads on LEN, CREE & LULU.
These positions above are anywhere from $1.92 - $5.31 out of the money.
MCM OCTOBER 2014 PORTFOLIO # 2:
PM - - The PM 87.50 puts will require action and will need to be closed out tomorrw, as
the stock is currently $0.67 in the money. If for some reason we get a move above $87.50, then the $87.5 puts might need not action,
however since we have an iron butterfly on PM, we would have to close out the $87.5 call tomorrow.
Either way we will have to close out either the call or more likely the put side before tomorrow's close.
We need to watch PM closely and decide when we want to close out either the put or the call short $87.50 strike.
LVS - - The LVS November $62 call is currently $0.61 in the money and if it remains there near the close
of the market tomorrow, it will need to be closed out.
However, if LVS looks to close blow $62, nothing would need to be done, but we will need at least a $0.61 sell off on the LVS November $62
call tomorrow before the close, if not we will have to close out the LVS November $62 call before the market closes on Friday.
IBM (puts) - The IBM November $160 put is still $1.43 out of the money, however IBM dropped for a short time
slightly below $160 before recovering most of it's early loss.
As long as IBM can close about $160, no action will be necessary, however if we get weakness tomorrow in IBM, the price could again retest the $160
strike price and if it looked to close there, we would have to close out the $160 put before the market close tomorrow.
We need to watch the IBM November $160 put tomorrow.
Positions that should expire worthless tomorrow are call spreads in: GLD, IBM (the call side of our iron condor), BHP, PM (calls) and on the put
side: AAPL, TIF, DIS.
These positions are all anywhere from $0.67 - $14.67 out of the money.
MCM NOVEMBER 2014 PORTFOLIO # 3:
RMBS and MRVL - The RMBS November $11 call and the MRVL November $13 call are $0.30 and $0.37, respectively
in the money.
If either or both of these calls looks to close about the short strike price ( RMBS $11 November call strike and MRVL the November $13 call
strike we will need to close either or both of these positions out before the close tomorrow.
However, if we do get a slight correction tomorrow, RMBS and/or MRVL have a chance to close before their call strike prices and thus
nothing would need to be done.
However, at this moment going into tomorrow it does look like we will have to close either RMBS or MRVL and more than likely BOTH
or these positions before the close.
AA (calls) - The AA Novebmer $17 is only $0.31 out of the money and could easily test the $17 tomorrow, if it does
we may need to act on AA.
However, if current pricing holds the AA November $17 could close below $17 and thus expire worthless. ( Keep an eye on AA tomorrow )
Positions that should expire worthless tomorrow are call spreads in: SLV, GDX, BBRY, JCP.
These positions above are anywhere from $0.79 - $8.74 out of the money.
IMPORTANT CAVEAT WARNING:
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 DECEMBER 2014 watch list and Portfolio will begin being posted after the close of the market on Friday,
right after the NOVEMBER options come off of the board on this expiration Friday.