fuzzballl 1:03 pm on Wednesday, March 28, 2018
Tags: SyntheticStock ( 356 )

XOM

#SyntheticStock – Right at the bell…no time to sell next week.

Bought to Close XOM MAR 29 2018 74.5 Calls @ .03 (sold for .48)

john4419 6:05 am on Thursday, March 29, 2018

Fuzzy, Any reason why you would close for 0.03 and not just let it expire?
- fuzzballl 6:46 am on Thursday, March 29, 2018
  
  It just depends. Since it’s in an IRA I wanted to get the next sale on as soon as possible to take advantage of the 3 day weekend (no naked calls in an IRA so had to close before I could sell again). In my regular account I will sometimes let them expire but just as part of risk management I still don’t mind at all closing those for a penny or two.
  
  Last week I had 2 or 3 positions expire that just never got filled for a penny. Probably same thing this week.
  
  Reminds me of a story…LOL. Was on a golf trip a couple years ago down in the hills of central Missouri. Sketchy cell phone service so Thursday I remember looking at an REGN short call position I had that was trading for about 75 cents with a day to go….figured I’d just let it expire. Next morning got to a high part of the course and had cell coverage. Checked the market and that call position was over 10 dollars!
  
  Had I not closed that XOM position yesterday I’m sure we would’ve woken up this morning to headlines of an Iraq – Saudi Arabia war starting and oil would be at 100. 🙂 🙂
  - john4419 7:01 am on Thursday, March 29, 2018
    
    I was just curious, you make some good points especially XOM and the possibility of bad new coming over night.
    - fuzzballl 7:04 am on Thursday, March 29, 2018
      
      No problem. Just closed an FAS position for .03 in an IRA for same exact reasons. Wanna get the next sale on before this rally gets sold off again…(LOL hope I’m wrong!)