At the time of this blog ENZ is the only issue that is currently below our short stirke price.
We will be holding the position until the final July expiration day, which is tomorrow. At that time we will see where the issue performs.
NOTE: If tomorrow we are trading $0.05 lower then our short 12.5 strike price; as we approach the close of trading tomorrow, be prepared to close out your position slightly before the close
However, if the stock should be trading at $12.45 or higher, the option should expire worthless and you will need to do nothing. ( in the money options are rarely exercised if less then $0.05 in the money at expiration. (However, if anyone feels that a $12.45 close is uncomfortable for them they can either buy the short ENX 12.5 put to close, or if they would like to own the stock, see if it gets put to you.
If any other action is dictated because of ENZ stock action we will inform you as to how to proceed.
In addition, we will be watching most of the other issues that are on the current Option writer WATCH LIST to see if any action might be needed before tomorrow. We will of course inform you if any action needs to be iniated on any other positions as well
We should have several plays to start our AUGUST recommendation list after close on Friday.