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

To: jjs_ynot who wrote (587)	2/19/1999 12:11:00 PM
From: NateC	Read Replies (1) \| Respond to of 2317

I'd appreciate anyone's advice and comments on what I just did, and what I should have done. I had a bull credit spread in place on EMC.....I sold the Feb 105s, and bought the Feb 100. The stock headed down...and today on Expiry,....it was hovering at 101. So the 105s would have been put to me.......I closed it out.....paying 4 for the 105's, and getting .5 back for the 100's I sold, to close the spread....so I ended up paying out losing 3.5...after collecting about 1.5 or so on premium a month ago. Would you all close out a spread like this on or near expiry day, to avoid paying the entire 5 points/share?