July Option expiration

I have had a slightly quieter month on the trading side as the summer progresses, and I can see this in my lower option trading as well. For the July option expiration occurring tomorrow, here are my current open positions:

Option Account:

  • $SUN Aug 44/48 strangle. I am long. You can see my blog post here on how I put this trade together.
  • $WFC Long the July 29 Put (part of earnings trade where I am long the August 34 Call and was short the August 29 Put). I expect this July put to expire worthless.
  • $GS Long the July 85 Put (part of a July/Aug 85 Put Calendar). This is to protect a short august Put. I will let this expire on Friday and address the short August 85 Put at that time.
  • $UNP Long the July 110 Put (part of earnings trade to protect short August 110 Put). I expect this to expire worthless tomorrow.

Swing Account:

$LH Long the July 90 Put. Short the 95 Call (against the Long stock position for the Fab 5). This is a 1/2 position. I am monitoring this closely today as the stock is under some selling pressure.

Long-term Account:

  • $AIG Short the July 33 Call against long stock position. I expect this to expire tomorrow thus keeping the premium collected.
  • $T Short the July 36 Call against long stock position. This could possibly expire tomorrow allowing me to keep the premium collected. If not, I will buy it back as I expect the cost to do so to be minimal.



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