things are good on the option front. on Thursday i will need to deal with the possibility of being assigned because SPY options are assigned after Thursday close i think. also, there maybe a dividend with SPY. i will research the two issues above and will report back tonight. EOD update:
does anybody know if the last day to trade SPY June options is on Thur? where can i look it up? i think SPY options should trade on Friday unlike SPX options (mentioned by dagnyt somewhere i think). but i remember being assigned SPY options before Friday open. but maybe it was because that particular option had a dividend in it and the owner chose to exercise to get the dividend.
they trade til close on fri , 3:15 cst you could be assigned before that , in that case you will be long or short the (stock)
no trades so far today. did not get a fill on short 90 July Calls. unrealized PL has improved a lot because the positon is getting closer to the sweet spot and to the expiration. june 18 midday update:
can't find the next ex-dividend date for SPY. it happens every quarter and last year it was on 06/20 http://www.etfconnect.com/select/fundpages/etf_funds.asp?MFID=64563 ITM calls don't reflect the dividend as far as i can tell: e.g. SPY=92.60, SPY June 92 call 0.80 (the previous dividend was 0.56). I would expect the calls to be ~0.50 more expensive if they had the dividend in them. so i guess i won't worry about it unless i hear from somebody with more knowledge.
screwed up a bit by not having a solid strategy to close out position on expiration day (and by not knowing whether i will get assigned or not). around 3pm i though SPY is likely to close below 92 in which case i will be Long 1200 shrs on Monday, so I sold 8x 90 July Calls to make -12x in total, then SPY jumped above 92 around EOD, so I went -10x July 91 Puts to cover the calls, then SPY dropped below 92 again. This time I got totally confused because I don't know whether i should rely on the official closing prices, 4:15pm price or some other price on SPY to figure out whether i will get assigned. so i added -6x 92 July Calls just in case since SPY was below 92 AH p.s. PL looks very nice EOD Update: