Options Trading Mentoring & Training in Ireland

I have three puts expiring in September; two to buy Gold at 105 (currently about 117) and another to buy the S&P ETF at 80 (currently about 108). I could hang on for another month and wait for those options to expire, most likely worthless, but this involves maintaining the full exposure of $29,000 for the sake of $50!!

Instead, I would prefer to close the positions, take my profit and use this exposure to sell some puts to expire next year and use my money far more efficiently and effectively.

I’m choosing to do this very early in the trading day as I don’t care what happens in the markets. For the sake of the couple of dollars involved in this, volatility won’t make too much of an impact. I would rather close the deal and look around for some other opportunities, rather than wait to see if I can save a fiver.

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