Option Investor

Option Writer Portfolio - June

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We need to do some portfolio Risk Management here. Last night my Contrarian indicators all went neutral. Since there are 30 days left until expiration we can make the positions more neutral. We need to adjust the short calls on WYNN, COH and MOS.

WYNN - We have sold the 120 calls at $1.60. I want to roll those down to the June 115 Strike. If you can, enter a call credit spread order for the 115/120 strikes for a net credit of $0.60. Otherwise you have to buy the June 120s and sell the June 115s.

COH - We sold the June 40s for $0.55. Lets close those out and sell the June 37.5. The June Call Credit Spread 37.5/40 provides a $0.25 credit.

MOS - Mosaic looks like it has better technicals than the stocks above but I wtill want to neutralize the position more. So we are selling the 140s (to open) and buying the 150s (to close). The net credit should be around $1.10.

Just a quick mention on NYX and USB. These two stocks are near thier strikes and are being watched very closely.

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