04-15-2020, 09:50 PM
(04-15-2020, 08:37 PM)john Wrote: On 4/9 I sold a CALL on IRM for 7/17 expiration 35 strike for .58 The price of IRM has dropped since then and I could buy my CALL back for .20 leaving ~ $37 profit.
How do you decide when to buy an option back vrs letting it ride?
When to take profits is definitely a black art. I would say that 64% of your max profit in a week would have me taking it off and placing another trade elsewhere.