NaughtyPines

BOUGHT TO CLOSE IWM JUN 17TH 102/105 SHORT PUT VERTICAL

AMEX:IWM   ISHARES RUSSELL 2000 ETF
Closed out this side for near worthless (a $10 debit). The alternative was to just roll it up toward current price (since I have a day job, I generally just set up a GTC order to close a spread for $10; the fact that it has closed is basically an alert to me that "Hey, you should look at this setup? Should you roll the other side out? Or just replace the spread and see how it goes?" ... All things best done when you've had a chance to sit down, ponder it a bit, work through possibilities on the full options platform ... .)

I'll probably look to replace it tomorrow with an 85% probability out-of-the-money put spread to protect the call wing of the setup (see Post below) from possible further upside.
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