Thursday, June 2nd, 2016

How do I sell or roll out of options strategy for my profits or do I have to wait for it to expire?

I Execute A butterfly option strategy and I can not figure out how to sell it to Receive my profit. Whenever I try to sell it, it tries to make me sell one leg at a time and when i try to process the order it tells me That I can not do it and Something That I’m doing wrong. The two options Are That I get to trade or opt roll. Can someone please help? Thank you in advance !!!!!! That Makes Since That I tried to close out the first short leg. Also, I tried to set it up to where I can Set the limit for the price I want to sell it for. Thanks a lot for the info! I Knew I Could sell it Before the expiration, just Did not Know Why I Was getting the error message. Another quick question, let’s say my lay out is 70, 72. 5, 75, how do I set the price to where I can only sell it for 72. 50 When I try to sell as a group Them? Also, does it charge me to set-up this transaction? b / c Every time I try to submit STI now charging me a fee, whether I’m trying to leg out or sell them all at once.

Comments

One Response to “How do I sell or roll out of options strategy for my profits or do I have to wait for it to expire?”
  1. James says:

    First of all, you can close out of any options strategies before expiration, whether in profit or loss. You could even close out some legs to transform the position into another strategy.

    Now, you could close out the butterfly spread one leg at a time or put down your close out orders before market opens so that they all execute the moment market opens.

    If you are closing out one leg at a time, what we call “Legging Out”, you need to close out the short legs first before you close out the long leg. You probably tried to close out the long leg first which most brokers won’t allow.

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