CLOSING: /CL NOV 15TH 66.5/67.5 SHORT CALL VERTICAL
... for a $20 debit/$70 profit.
Notes: Peeling off some call side on approaching worthless. Ordinarily, I would attempt to pair off call side with put side, but the November put side is somewhat "troubled" here on this down move, so will just have to wait to address that side on the grind into expiry.
The other note of practical importance: these spreads trade in .10 increments, so you have to get out at .10, .20, etc. Although I like to wait for <.10, that generally doesn't occur until the very last part of the cycle.
Notes: Peeling off some call side on approaching worthless. Ordinarily, I would attempt to pair off call side with put side, but the November put side is somewhat "troubled" here on this down move, so will just have to wait to address that side on the grind into expiry.
The other note of practical importance: these spreads trade in .10 increments, so you have to get out at .10, .20, etc. Although I like to wait for <.10, that generally doesn't occur until the very last part of the cycle.
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