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Strategies & Market Trends : Option Spreads, Credit my Debit -- Ignore unavailable to you. Want to Upgrade?

To: Vol who wrote (2294)8/24/2003 8:02:40 AM
From: jjs_ynot  Read Replies (1) | Respond to of 2317
 
The only real exit strategy for a short 2 1/2 put is to buy back the short position.

For a short call, one can buy the common (or lower strike call) to create a covered call, roll to a higher strike for a later month, or just pay the piper and buy back the short position.

In any case you need to have your exit criteria in mind going into a trade. I typically have a planned exit around the point that the underlying reaches the strike price.


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