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I had an Aug 20 TAL 22.5 P/25 C short strangle on that I had not defended yet (I had collected $4.22 credit so far on that position). When it opened down 60% this morning, there are no contracts below $10, so I rolled my call down to $10 for $1.20 credit (followed Tom on that one). I can BTC my call for $0.70 (as of close of market today). Kinda lost on what to do now other than just see if it rallies to a better place to get out. Any thoughts?
it's not a huge portion of my account, so im not too worried overall, but this is my first time having a position this far in the red, so looking to learn from this and get better.
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