Final APRIL 2012 disposition for Portfolio #1.
All with the the remaining positions in our Portfolio #1 should expire worthless tomorrow with the exception of the following three (3) positions, which may of may not have to be closed out tomorrow before the close.
The positions that will need attention are as follows: IP IBN & NEM put spreads.
IP 34/32 put spread - IBN closed today at $33.62 - $0.38 in the money.
IBN 34/32 put spread - IBN closed today at $32.96 - $1.04 in the money.
NEM 48/46 put spread - NEM closed today at $47.81 - $0.19 in the money.
We are going to look to close the SHORT positions on any gap opening on any of these positions at tomorrow's opening. If we get no gap opening tomorrow morning, then we will try and close out the spreads if the stock is up during the day and if we get the opportunity. Additionally, you may decide to close any or all of these positions with a MARKET ON CLOSE order near the end of the day, especially if you are going to be away from your computer during the close, because, if any of these short puts look to end up in the money, they must be closed out Before the close of trading tomorrow or you will be put stock that you may not what to purchase.
Final APRIL 2012 disposition for Portfolio #2.
The remaining positions in our Portfolio #2 should easily expire worthless tomorrow.
BIDU condor stock closed at $144.74 - out of the money by $29 put side and $16 call side
IBM condor stock closed at $199.51 - out of the money by $14 put side and $16 call side
GOLD call credit spread - stock closed at $87.27 - out of the money by $8.00
CMI call spread - stock closed at $114.84 - out of the money by $11.00
AMGN put spread - stock closed at $67.02 - out of the money by $5.00 .
This is the last watch list for the April cycle, as they will come off the board
on Friday and we will begin reporting and following the May option cycle at the close
CAVEAT: Remember it any ISSUE should end up looking to close in the money
you will be assigned or exercised stock that you may not have or may not want.
Be sure to close ANY short call or put that might end up in the money by the
close on Friday.