Thanks...
I guess what I will do is close them all on friday before the close. Supposedly I don't have to pay a commission on any shorts under 5 cents with ThinkorSwim. I would imagine the shorts will be under 5 cents just before the close. I would just pay on the longs...which is fine.
Thanks,
Joules
--- In OptionClub@yahoogro
>
> Or on most trading platforms you can (and IMHO) put in a single order to
> close both the long and short options of the calendar as a single trade at a
> net price. Depending on what may happen after the NY close on expiration
> Friday, after hours news could cause someone to exercise which, if you
> decided to let the shorts expire (technically leaving you short until
> Saturday, when the options REALLY expire) and closed the longs at 3:59PM,
> could cost you big time possibly if the news that caused your shorts to be
> exercised forces you to cover on Monday at a price that is unfavorable to
> you. On expiration Friday, you can be hurt by afterhours news that a trader
> who is long the options thinks could push the stock enough to make it
> worth his while to exercise. A trader, depending on the brokerage house,
> has until at least 430PM Friday to tell his broker to exercise. You won't
> find out until Monday that your shorts have come back to bite you if that
> happens.
>
>
>
> Ken
>
>
>
> From: OptionClub@yahoogro
> Behalf Of Jack
> Sent: Saturday, December 12, 2009 6:25 PM
> To: OptionClub@yahoogro
> Subject: RE: [TheOptionClub.
>
>
>
>
>
> Actually, you can sell you longs right after (or simultaneously) with
> covering your shorts. If you cover your shorts for $.05 or less, TOS will
> not charge you a commission. J
>
>
>
> From: OptionClub@yahoogro
> Behalf Of jouless360
> Sent: Friday, December 11, 2009 8:08 PM
> To: OptionClub@yahoogro
> Subject: [TheOptionClub.
>
>
>
>
>
>
>
> Chris:
>
> So ...I close the longs at 3:55 pm on expiration day?
>
> Joules
>
> --- In OptionClub@yahoogro
> "Chris" <chris@> wrote:
> >
> > Joules,
> >
> > You cannot close your long contracts before Monday without leaving
> > yourself naked on the short contracts. So, what you're looking at doing
> > is holding the longs over the weekend. That entails some risk since you
> > don't know how the market will open on Monday.
> >
> > Christopher Smith
> > TheOptionClub.
> >
> >
> >
> > --- In OptionClub@yahoogro
> "jouless360" <jouless360@
> > >
> > > Option Club:
> > >
> > > I am somewhat of a rookie in options and was looking for some
> > guidance. I am in some DEC09/JAN10 Calendars on the majors and am in
> > dead center of my risk analysis curve. Therefore, I am considering going
> > to expiration on them...since I have quite a bit of room and I would
> > like to max my profit. I put up $4000 and am looking at about $800 by
> > next friday.
> > >
> > > Question: If I let the Dec shorts on my Calendars expire on the last
> > Friday....do I have to close the Jan longs just before expiration on
> > that day....or wait until the monday after expiration?
> > >
> > > Thanks for your answers in advance!
> > >
> > > Joules360
> > >
> >
>
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