Option Expiration Friday

I have a few naked puts (DOX, CAT, MOT, GM) that will be assigned to me with this November option expiration today.  I’ve looked at all of them and they all have similar charts that show they are near the bottom of their trading channels.  If this over sold condition snaps and stocks have another big day I’ll be sitting pretty writing calls on an up day.  Fear is ruling the markets now.  I am certainly down from where I was a month ago and will be selling covered calls fairly quickly on whatever is assigned.  The premiums seem to be pretty good so I think when all is said and done I’ll finish each position with a profit, except for MOT maybe.  I’m still not sure of my plan on MOT yet.  I might just take my loss and sell the shares on Monday morning. 

I typically watch closely on Friday afternoon before options expire, but have to leave my computer early for a funeral this afternoon.  This is the second person I know who has died in the past 10 days.  That just sucks!

On a positive note though, my wife accepted her new job and starts in a few weeks.  She’s getting a raise which is always good.  I’m still waiting on my offer.  I went in and worked out the details, but haven’t received the written offer yet as I was supposed to yesterday.  The president blames HR and HR blames the president for the delay.  Apparently they really need me there to help with their processes.  I’ll talk more about both of our job changes later I’m sure since it’s a big change for our household.  We can now live off my wife’s income and save mine.  We won’t actually do that I’m sure, but our savings will increase and our comfort level at home will increase at the same time the way I’m envisioning it.