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Exiting a Strangle position
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I purchased my first strangle on AAPL today, so my question is, what is the optimal way to close out a strangle (or straddle, for that matter)? Dropped on earnings so the PUT side will be making money and the call losing if everything remains as it was in after hours. Do I sell each leg individually or can I sell a strangle the same way I bought it as a pair (Fidelity)?

If separately, should I sell the PUT close to market open or when I feel the stock has bottomed from earnings reaction, and let the CALL ride and wait for potential price rebound before expiration? (3/8/24 expiration)

Sorry for the NOOB question. Not looking to exercise, not enough capital to buy the shares.

Thanks in advance!

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10 months ago