CSP is up 50% in one day. Close or wait for 100%?

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You can probably guess the ticker based on my timing. Yesterday I sold a CSP on TQQQ. 27P 6-9-23.

This was not intended to be a directional play, or I'd have bought a call. I just wanted to wheel TQQQ. But obviously today NVDA jacked it up so I'm at 50% of max profit in a day.

My gut says take the money and start a new CSP tomorrow. But I am naturally prone to jump the gun, so I would like y'alls perspective.

When your theta play becomes unexpectedly directional (in a good way), what do you do? Close and move to a higher delta option? Kinda like rolling, but the opposite?

Is there a term for this sort of "anti-roll?"

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Educatedrednekk

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Posted: 1 year ago
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