Trade Alert 11/15/2024

We have arrived at expiration. Below is a list of November monthly option expiration positions. Most of which will need no adjustment. EQT is listed below and will need to be monitored and potentially adjusted. Details shown below. AAPL 190-170-150 put butterfly will expire OTM – needs no adjustment APA 30.00 strike covered call will expire OTM – needs no adjustment CCJ 60.00 strike covered call will expire OTM – needs no adjustment INTC 26.00 strike covered call will expire OTM – needs no adjustment NUE 175.00 strike covered call will expire OTM – needs no adjustment OXY 52.50-57.50 1×2 call spread will expire OTM – needs no adjustment X 47.00 strike covered call will expire OTM – needs no adjustment EQT we really have two positions a covered call and a call spread. However, at this point we can think of the position as a simple spread. We are short 1 of the 42.00 strike call and long 1 of the 42.50 strike call. Here are the scenarios. EQT is below 42/share = do nothing as both calls will expire OTM EQT is above 42.50/share = do nothing as both calls will exercise against each other EQT is between 42.00 and 42.50 per share = buy back the 42.00 strike call and the 42.50 call will expire OTM. We won’t know for sure, which of these 3 outcomes will happen until the end of the day. We won’t be sending an additional newsletter but will simply follow that approach detailed above at the end of the trading session.