Gradually mastering options. Initially, in the expectation that the price will bounce up and not go down anymore, три дня назад продал опционы The road with a strike 39 on 1,12 expiring 16 December this year. The share price at the time the option was sold was 39,01.
Now the price has gone up and out of the level 40,13, which means the profit by the amount of the premium in the case of buying shares at 39,01. Current profit from options, respectively, slightly more than half the size, since the option is still in the process of melting, that is, the delta was less 0,5.
If instead of selling the Put option, I would just buy shares, then the profit would already have been significantly greater than the current.
Now I think what would be useful to do here with the position. There are several options
1) sell additional Call options near money, expanding the break-even line from below and increasing the potential profit from the premium received. But there will be a danger that if the stock starts to grow rapidly and instead of profit, a loss will be received.
2) Buy Puts with a strike 38 and turn the position into a bullish spread. The advantage is that the risk from below will be under control, but the disadvantage is that the potential profit will decrease.
3) Just close the position with a profit, but somehow it doesn't work out very effectively, since the profit will be understated, since the option has melted too little.
4) Roll position to strike higher, thereby increasing the potential profit. But looked at the option scheme — a very small increase is obtained, disproportionate to the increase in strikes, and the breakeven level rises significantly higher. Therefore, I doubted this event.
5) just leave everything as it is until the option expires or until the price approaches the breakeven level, and then there is already thinking and looking at the diagram. This is where it stopped :)
And what would you do??
