We have arrived at May monthly options expiration, and as a result, several of our trades are approaching expiration. These positions are all 1×2 put spreads, and based on the current market strength, they are likely to expire out of the money. This highlights one of the advantages of the 1×2 put spread structure, as the initial debit is typically quite small. The main exception was CEG due to the higher stock price. There is still a slight possibility we may be able to sell that position for some remaining value.
For that to happen, CEG or any of the other underlying stocks would need to experience a sharp decline today, which is not the most likely scenario but still worth monitoring closely. If any of these positions do move sharply lower, look to sell the put spread for as much value as possible — the higher the credit received, the better.
OXY 55.00/50.00 1×2 put spread is currently set to expire out of the money.
UBER 70.00/62.50 1×2 put spread is currently set to expire out of the money.
CEG 260.00/230.00 1×2 put spread is currently set to expire out of the money.
CCJ 100.00/90.00 1×2 put spread is currently set to expire out of the money.