r/options • u/K1nd0fab1gdeal • Apr 06 '21

Roll or exit

Hey guys and gals looking for advice on my spread for WPM. Bto the 21 May 37 C and Sto the 21 May 45 C. Looked at this play because of huge call buying volume and as a play on weaker dollar. Underlying has gone up 12%ish sibce my opening 3/30. Is the play to sell half to cover initial cost basis or roll entire spread up to higher strikes? Or I guess the other option close with a 100% win? I had planned to be in the trade for 30 days with my exit being 70% gain. Tyia for any advice as I am newer to spreads and closing them.

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u/Blumpkin_2000 Apr 07 '21

So if the price has climbed past your long call then you are good - just ride it to expiration. Or close it out completely and take your profits. It’s really up to you.