DISPOSITION oF REMAINING OPENING POSITIONS.
The following issues will need to be followed and potentially dealt with.
DECK(puts) - dropped the last three days to finally go deep into the money today
by over $5.00 at $39.03.
You can do one of several things.
1. Close the position on the opening, or anytime during the day.
The BID/ASK is $2.30 - $2.60 ( currently at the close this hour )
As usual we will look to close between the BID/ASK spread.
Although we will have to close the position today lets try to close for
a NET DEBIT of $2.40 - $2.45, before we try and close at $2.50 before the close.
Remember we have to close the spread by the close on Friday, or we will have stock
assigned to us that we do not want to own.
CAVEAT: Once again, Remember this is the last day to close out any position for
September expiration, even if it is $0.01 in the money at the close you MUST close the
position or you will have stock put to you that you probably do not own.
FB is less potentially volatile so you might see how they open tomorrow and if FB looks to close over $22, you might either:
A. Close the order out tomorrow on the opening or wait for a better price ( hopefully as the day progress) and close the FB Sept 22 call at that time.
You can also hold the position and close it if it looks to close above $22 with a MARKET ON CLOSE order.
However, the consequence of that is it could be at a higher price later, but it could also be at a lower price to close. Your choice.
You can also just hold unto the option and see how FB trades during
the day and decide to close the FB SEPT 22 cal if it looks like FB is going to close over $22 money near the close.
Of course there is a small chance that FB could close under $22
and you could just let the FB $22 call expire, however I don't think this will be the case and we will probably have to close the FB $22 call.
You can either look to close on any flat or down opening.
You can hold the position and hope to close out near the close.
You can put in an order for MARKET AT CLOSE and take the price you get at
the close. This is the best way to handle the close if you are not going to
be near the computer tomorrow at the close, however if you can be at your computer
you might want to either close or hold and close the FB $22 call before the market closes. Your choice.
Once again remember, if FB looks to close above $22 tomorrow at the close you
MUST close out the short FB $22 call before the market closes tomorrow or you
will be assigned stock that you may not want.
ADM (call spread )
You might want to watch the opening and decide if you want to place a stop
on the option or hold it and see if it closes under $27 tomorrow.
The BID/ASK if $0.12 - $0.13 and the stock is only $0.03 in the money.
This position could close out ether above or below $27 tomorrow.
You can close on the opening or wait for a close later in the day if ADM looks to be closing over $27.
You can just hold until the close and act accordingly or if you are not going to be at home for the close
hold the position and place a MARKET ON CLOSE order before you leave.
CAVEAT: Remember this is the last day to close out the position so if it looks to close
even $0.01 in the money at the close you MUST close the position or you have stock
called away that you probably do not own.
All the other issues look to be expiring tomorrow.
you might want to keep an eye on VECO, but I think that should be alright.
WFM SEPTEMBER 100 (call spread)
The only issue that we should have to be concerned about tomorrow is the WFM SEP 100 (call) spread that we might have to potentially dealt with.
WFM is currently trading at $99.39, $0.61 out of the money. but we need to watch this position carefully until the close tomorrow.
If t should look to close above $100 you will need to act accordingly and close out the position before the close tomorrow, if it looks to close below $100 you need do nothing.
I will email if we need to do anything other unexpectedly.
CAVEAT: Remember this is the last day to close out the positions so if any position looks to close even $0.01 in the money at the close you MUST close the position or you have stock called away that you probably do not own.
If a put position were in the money, you could be put stock that you probably do not want or have the money to pay for.