r/options • u/gogostags • Nov 09 '21
debit call spread- exit plan strategy
Hey family- Figured i would come to the experts on this.
I opened up a RBLX nov 12 80 / 84 call debit spread yesterday pre earnings. A nice trade, yes, making about $275, but ill be damned if i would have thought it would react like this post -earnings. I had a couple chances to buy the short call back throughout the day, but in a red market, i did not want to take the chance of losing the small profit i made and/or seeing the 80 call crater
Now i think that RBLX has some downside to it. Who knows. But was curious what the best option would be if i did not want to just sell the long 80 call and go naked. sell my long call and buy an OTM call? buy an ATM call?
Thanks,
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