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Bob Simon
Posted: Tue Oct 14, 2008 12:59 am
Guest
I have an expiring in the money option (.SPQJT Oct 1000 $SPX.X) and
I'd like some advice about exit strategy. As I understand it, there
are three ways I can get out:
1) Manually place a sell order any time prior to 4:15 EST Thursday.
2) Place a Market at Close order prior to 3:40 EST Thursday.
3) Let the option expire and hope the opening on Friday is higher.

Can someone suggest an intelligent way to proceed or point me to some
resources online that discuss this topic?
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Dr Tormento
Posted: Sun Oct 19, 2008 2:56 am
Guest
Bob Simon <nobody@nowhere.com> wrote in
news:73d7f45dsal6g4ts3thmeptqo2g6nsc799@4ax.com:

Quote:
I have an expiring in the money option (.SPQJT Oct 1000 $SPX.X) and
I'd like some advice about exit strategy. As I understand it, there
are three ways I can get out:
1) Manually place a sell order any time prior to 4:15 EST Thursday.
2) Place a Market at Close order prior to 3:40 EST Thursday.
3) Let the option expire and hope the opening on Friday is higher.

Can someone suggest an intelligent way to proceed or point me to some
resources online that discuss this topic?


Holy cow! Somebody posted an on topic message! That's the first time in
months that's happened!

Method 1 has the advantage of collecting some time value. IOW, the sale
price will be higher than the amount the contract is intrinsically worth.
The other two methods leave your closing price completely unpredictable and
are thus never used by retail investors.
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