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Strategies & Market Trends : Picks of the quarter

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From: Elroy	1/5/2024 1:23:21 PM
	of 20435

Well this is perhaps off topic, but if many of you are short term position traders, perhaps you've got some relevant experience. I'v built myself up to a fairly large (for me) Jan call option position in a stock I like. I was expecting positive news this week, which would move the price higher. It did not appear. The stock has move up a little bit, so all the options are making me a small amount of money. If no news appears by next Wednesday, I want to sell the Jan call options before expiration so as to not get stuck needing to sell them at whatever price i can get on expiration, and also I don't want to exercise them and buy the underlying. So here's the question - is there any good strategy for selling a large volume of in the money call contracts which have two weeks to go to expiration? The strike is $5. The stock now is about $5.65. The bid - ask on the $5 Jan call is 60 cents and 70 cents. If I sell them all for 60 cents, assuming the market would even absorb it, I lose 5 cents of intrinsic value. That seems no good. Any advice for how to unwind a large volume of modestly in the money call contracts on a fairly illiquid strike without leaving the leasta amount of profit on the table? What would the pros do? Thanks in advance!

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