Standard Monthly Options expire at the end of this week. Since we have 13 open positions to address, which represents about half the suggested positions that are currently open. We thought we should discuss them now so you have time to decide what you might want to do as the week progresses. As one might expect, a few trades worked in our favor (8), while 5 did not. The following table summarizes those trades that will be coming to an end this week. As of last nights close, these trades show a cumulative gain of about $1,064.
(1) GILD | We have been executing a buy-write on GILD as an income strategy since January 2017. The suggested position is currently long stocks with a $75 strike call written against it. The stock closed last night at $75.88 which is very close to the purchase price. We suggest letting the position ride. If it ends the week above $75, let the share get called away. If they close below it, sell another call on Monday.
(2) GM | GM is a buy-write as well. The call is well in-the-money, so we expect it to get called away.
(3) GPS | GPS is a buy-write also. The call is well in-the-money, so we expect it to get called away.
(4) TLT | We took a bearish stance on long-term interest rates with a call spread risk reversal. We did not get the rise in interest rates we were (and still are) looking for. Close out the position if the position is in the money next week.
(5) SYF | Let the short put spread expire worthless.
(6) KIE | Let the long-call expire worthless. (Remarkable that the huge payouts from the flooding in Texas & Florida had virtually no effect on the property casualty insurance company stocks.)
(7) AAPL | Place an order to close the position at $1.00 now and hope you get hit sometime during the week, possible during the Fed rate announcement. Be sure to close before expiration.
(8) UAL | Place an order to close the position at $0.50 now and hope you get hit sometime during the week. Be sure to close before expiration.
(9) OSTK | Let the short-call spread expire. It is clear that bitcoin had more crazy price action to go.
(10) TGT | Place an order to close the position at $0.50 now and hope you get hit sometime during the week. Be sure to close before expiration.
(11) XLF | Let the short put spread expire worthless.
(12) PRU | Let the short put spread expire worthless.
(13) XRT | Let the short put spread expire worthless.
