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Going to go ahead and close out our options trade with WSM. As I mentioned when I issued this trade the strategy was to catch a few points into earnings, more than exceeded our expectations and want to lock in gains here.
Now if you have one contract I would close out, don’t play with it.
IF you have two contracts or more, reasonable to close out half and give the other half a chance at it tomorrow.
The other option is to roll it up but with the same expiration, say Sell to Close the 17DEC 210 and But to Open the 220 and remove some profit. For some this strategy works well, specifically daytraders, but for me I have seen good gains turn into break even so I try to keep it simple here, made my money, move on.
So I am closing out the two contracts I have. Nice $1400+ profit.
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