Option Expiration – Closing Out All Options Positions At Profit

June 19th, 2009

Another wonderful and exciting option expiration is upon us again. Most people actually hate these days, I find them extremely profitable. As Option Writers members know, we are closing out ALL of our positions at a wonderful profit today. Once again we hit our profit targets while creating a stable stream of income each month. It just goes to show you – we made a lot of money while the market moved sideways this month!

 

Looks like we are going to get a gap higher this morning. Honestly, these early morning gaps are likely filled the same day, so don’t jump in and buy long at the open because you are going to get better prices later. Now, clearly I am not suggesting that you even go LONG, but I have to face the reality that some people don’t listen to me – though they really should. As of this writing, the /ES is trading right at my resistance level of 920. As long as we don’t CLOSE above 935 in any significant way, the retracement will be successful and more downside will come next week. Here are the levels to watch today.

 

spx18

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