Earning Trades update – 07/14/2013

As we head into July Options expiration, I like to evaluate my current positions that have options involved. Here are my current Earnings Trades and my current plan:

$LZB I am long stock at $20 (from 6/28) and short the July 20 Straddle (a $2.5 credit at the time this piece was done). The long stock position is capped so I will just let it get called away. The gain will be from the original stock hedging trades I did as well as the credit from the straddle sale. The short 20 Put will expire worthless.

$KMX I am long stock at 42.85 from 6/21 and I added a July 46/44/42 Collar on 6/25 for an $.08 credit. The long stock position is capped so I will just let it get called away. The Put Spread will expire worthless.

$GIS I am short the July 47 Puts (as well as short the August 46 Puts). I expect the July Puts to expire, keep premium collected.

$ORCL I am long stock for a client but it has no Options at this time.

$ACN I am long stock for a client but it has no Options at this time.

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