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Strategies & Market Trends : Option Strategies

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To: chris714 who wrote (1992)	10/17/2018 12:48:30 PM
From: Thehammer	Read Replies (1) of 2591

Hi Chris, I bought them back before the market's big bounce so they were ITM and time value was getting low. I used to try to squeeze every penny out of my trades. Sometimes that cost me dollars. If the market ws less turbulent, I may have waited but then again it may not have dropped to ne ITM. Some of it is a two-edged sword since especially since I was dropping down a strike. I might have been able to buy the OCT option back for less or let it expire but the APR 62.50 would have sold for less as well. Like I said before, I tend to drive most of the buybacks / rolls by looking at time value. When I get into the last week, I get nervous especially if there is a lot of volatility. Most of the time, I invariably leave something on the table in that i could have gotten a larger credit. However, there are some instances were I lost more by waiting when my gut said to close. Lastly, I have some things going on the next couple of days and don't want to worry about it. PS I bought back and rolled my OCT SJM - will post later PSS Chris, hope this helps-- good question.

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