Jeff 11:54 am on Thursday, March 17, 2016
Tags: SPXcampaign ( 2,265 )

SPX calls closed

#SPXcampaign Bought to close $SPX March 17th 2060 calls for .45. Sold in the 2060/2085 spread for 1.19 on March 7th. Can’t risk leaving this open with morning settlement gap risk.

Meera 9:55 am on Friday, March 18, 2016

I made a mistake by not closing and I got assigned today on SPY. With today being the ex-dividend date also had to pay a huge dividend. Live and learn! I have several calls for April that are at risk of getting breached on the short strike. Didn’t expect the market to continue to be this strong.
Jeff 9:57 am on Friday, March 18, 2016

Yes, it’s the peril we face in this market. Tuesday’s VIX signal was the harbinger for continued upside. I got out of what I could after that happened.
- Meera 10:01 am on Friday, March 18, 2016
  
  Does the assignment usually happen anytime when the strikes are breached or more so because of the ex-dividend date on Index options?
  - Jeff 10:15 am on Friday, March 18, 2016
    
    In this case I would say it was due to the dividend, but if they were expiring today, ITM options often get assigned on Thursday night before expiration anyway.