May Expiration – UBER, RIG, FTNT, ONON, ON, TXG, FCX, DKNG
Today is the expiration of our eight May covered call positions. Here is where we stand with each, with the headline being that we are simply going to let the calls that we sold expire, and you don’t need to take action today.
UBER is trading at 39.50, and it is very likely the May 33 call that we sold will expire in-the-money, which means we will walk away with our full profit. You will not need to address this position today.
RIG is trading at 6, and it is very likely the May 6.5 call that we sold for $0.21 will expire worthless today. We will not need to address this position today. Next week we will evaluate whether we will sell a new call or simply sell the stock out and move on.
FTNT is trading at 68.75, and it is very likely the May 65 call that we sold will expire in-the-money, which means we will walk away with our full profit. You will not need to address this position today.
ONON is trading at 27, and it is very likely the May 30 call that we sold for $2.60 will expire worthless today. We will not need to address this position today. Next week we will evaluate whether we will sell a new call or simply sell the stock out and move on.
ON is trading at 84, and it is very likely the May 80 call that we sold will expire in-the-money, which means we will walk away with our full profit. You will not need to address this position today.
TXG is trading at 55.50, and it is very likely the May 50 call that we sold will expire in-the-money, which means we will walk away with our full profit. You will not need to address this position today.
FCX is trading at 36, and it is very likely the May 42 call that we sold for $2.40 will expire worthless today. We will not need to address this position today. Next week we will evaluate whether we will sell a new call or simply sell the stock out and move on.
DKNG is trading at 24, and it is very likely the May 21.5 call that we sold will expire in-the-money, which means we will walk away with our full profit. You will not need to address this position today.
Stepping back, it was a good month for the CPB portfolio as five out of our eight positions will expire for full profits, and those that didn’t also worked out “OK.”
I will update you on the profits and how we will manage the three positions that didn’t close for full profits early next week.
