Hello Traders,

Tomorrow is Friday and is expiration day. I have a list of trades that will have to be monitored closely to either close or to let expire.  I hope this is helpful to all of you that have been following me and I hope that you can benefit from this discussion as well. I will tweet the actions I take along the way tomorrow as well.

Let’s start with my weekly iron condor trades:

AMZN is currently trading around 665. I intend on letting this expire. The short strikes are 690c/630p and if challenged ensure you close the trade.

GOOGL is currently trading around 760. I intend on letting this expire. The short strikes are 772.5c/727.5p. I think the call side is most at risk right now, but I am going to give it a shot to expire. Just keep a close eye on it going higher and close if necessary.

Other positions that are expiring tomorrow:

IBB is currently trading around 333. I intend on letting this expire. The short strikes are 360c/305p. This one had performed nicely and I feel there is little threat on this one and should expire with no problems.

SPY is currently trading around 208.50. This iron condor has the call side ITM and I am going to see if there is a sell off tomorrow since it is $0.50 from the short call. The short strikes are 208c/188p. If I get the opportunity to let this expire would be awesome, if not this will be on the top of the list to close tomorrow if the market is showing signs of a rally. Taking a little risk on this one, but it could go from ITM to worthless very easily so I will take the chance.

YHOO is currently trading around 32.60.  I intend on letting these short puts expire. The short strike is 30p. This has little risk in my eyes and should expire worthless with no issue in my opinion.

TWTR is currently trading around 26.4. This credit spread is slightly ITM. The short spread is 27p/24p. This is another one that I am going to take a little risk going into tomorrow to see if TWTR continues the rally. If it gets above 27 I will be excited to let it expire if not I am going to see what I can get out of it.

RACE is currently trading around 47.5. This has sold right through lower strike of my strangle 49p/54.5c. I have three options that I will be taking on this tomorrow. First is to just buy back the short put, the second is to roll it out and down to continue this strategy and to limit the transaction since I will most likely continue to trade around this position, and the third is we get a rally and it gets back above 49 and I let it expire.

That is the plan for tomorrow. It will be a busy day and I am looking for several new trading ideas to put on. With the number of positions at expiration I will need to start new positions to get to the investment level in the account that I like to carry. Twitter will be the key place to see how and what I am doing. Lastly, I am renovating the websites as you have seen, and I am working on a new direction with the portfolio tracking and sharing my trading information with all who are interested. Please be patient with me on this, and if you have any ideas or inputs that you would like me to consider shoot me an email at optioncoach@optioncoach.com, or use the contact blocks in either website. I look forward to hearing all comments or questions.

Happy Trading!

Option Coach