Great! Finally get to move onto the next month. Things tend to get dull for me during the week of options expiration. I usually already have my covered calls written before the last week, so there's really nothing for me to do except ride it out to the end of the week and hopefully the underlying stock stays below the strike price. I didn't want to risk it on LDK this time, so I sold the $40 calls for less premium than if I sold the $35 calls, which I would have also pocketed the premium since it closed just below $35 today. I should have stuck with my feelings that it was going to close at Max Pain. 

For those of you who don't know about Max Pain, it's an interesting theory about options. It's basically a term used to describe the price at which the stock will close at on options expiration day in order to inflict "maximum pain" on those who bought calls on it (so that they expire worthless).

Or in other words, it means that this price point also leads to the most profit for those who sold the calls, usually being institutions, market makers, and also me!

It's great for the week of expiration or the week right before, as the farther out you go, the less predictability there is of where the stock will move. As always, this is just a theory and by no means is it a definite. Keep in mind that the theoretical Max Pain price should usually be ignored when there is news coming (earnings).  

For more information, google it! I use the following site to calculate max pain prices:
http://www.iqauto.com/cgi-bin/pain.pl 

Have a great long weekend everyone.