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Strategies & Market Trends : Option Strategies

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To: S. maltophilia who wrote (2562)	4/8/2024 6:03:56 PM
From: Elroy	Read Replies (1) of 2591

You seem to be saying....hit the option bid? I won't do that. I've got nine days. My thoughts are if NGL is $6, and the April $2.50 call is $3.40 and $3.60, put in an offer at $3.55, and wait for a day (one out of the next nine) where the underlying NGL moves up through $6.05. I'm definitely not slamming a bid. I'm going to (I think) make an offer, and wait to get paid. My question is any suggestion on how to do it to maximize the sale price? Hitting the bid is the way to close out the trade with no concern for price. Yes, I've done well with this trade, but that's still no reason to sell lower than absolutely necessary. I've got enough bad trades to offset that I can't be giving away return. ----- One possibility is to go short the number of units which match the call, and then exercise the call and tell the broker to offset the short position. In this case, do I never actually own units? I'm trying to maximize return while not also mucking up my K-1. I have long term NGL units in my account, I'd prefer it if this trade doesn't affect them at all.....

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