BEFORE Trading Options Learn How To Close Them! Options Trading For Beginners

[@BradFinn]

FREE Mini Course On Trading Options: kzbin.info/www/bejne/rXWpm2ZnZbt9oq8 **Beginners Guide To Trading Options Course** Discount Code “OPTIONS” averagemoney.teachable.com/p/options/?preview=logged_out *Learn Options Playlist* kzbin.info/aero/PLKkDvxOyGhXNQScWSs94PZEHpTPx93M7F

[@kevinleo1683]

Hi Brad, I see that for exp, you and other pros chose 'Good for Day'. Why not choosing 'Good til Cancel'? Tks.

[@Rian_P]

Screw KZbin, I haven't bought my first option because nobody explains what you did. I've watched this video at least 10 times and I think I will 100 times or more until I understand every single piece. Thanks a lot.

[@BradFinn]

👍🏻

[@Steve_Byron]

Find cheap stock with good volume 2M+. Buy 1 call option, while you’re in the green sell to take profit. It’s easier once you’ve done it. Good luck.

[@vanessaWiggs]

😂😂😂😂i thought i was the only one

[@nfekeskxnxngntnrkdkcn627]

Literally learned more here in the first 5 minutes then the past 2 hours of searching how to sell options.

[@BradFinn]

Cheers. Thanks for watching

[@cesarallen7898]

Fact!

[@Dabrothergoose]

Facts! I’ve learned more from Brad about option trading than any other source.

[@rickmorello454]

So I’m still confused why you would close out an option you wrote? You said 75% you close it, so if you collected a $10 premium if you could close it for a $7.50 (and net $2.50 profit) then you close it? My thought is going back to your first premise on Sell to Open, as long as I pick a good strike price I’m happy with then let it go to expiration? That way I keep the whole premium if it closes out of the money instead of settling for the $2.50 profit. Am I thinking wrong?

[@ranvierion]

@@rickmorello454 You aren't wrong to wait for it to expire worthless. However, generally, buy to close to lock in profit is helpful because you might never know what may happen leading up to the expiration day. If you sold a call option, and as the days gets nearer to expiry, the stock flys up and this leads the premium to rises and the call option rapidly moves nearer to the money or into the money, Your profit will rapidly decrease or in worse case scenario, you take a loss instead. Then you will probably regret not closing it to lock in the profit. Likewise, if you sold a put option, and as the days gets nearer to expiry, the stock price plunges, This will also lead the premium to rises rapidly and the put option will quickly move nearer/into the money. Similarly, your profit will drop quickly and if it goes deep into the money, you will get a lot of losses. And if you don't have much time left for the premium to drop, the option Greeks will make it almost impossible for you to turn the scenario around and you will be forced to close and take losses or roll down/out the options if you don't want to be assigned/exercised.

[@kattabdallah7027]

This is still very relevant 3 years later. I have been learning so much about trading options lately. This is the first video to explain such a crucial step.

[@BradFinn]

Thank you. A lot of the basics are timeless

[@ToriShawy]

May 2024: new @ options and just learned how to buy them. Glad to find a place to show me how to sell them. Thank you; this video is timeless and priceless. Happy mother's day!

[@TheotisJames]

This is the video I’ve been looking for. So many videos of placing an option but nobody posting vids of getting out

[@BradFinn]

Cheers. Please share

[@chrismarkenson2755]

I know this is 3 years ago, but really helped me and this literally is the 1st video ive found 3 years later with someone FINALLY explaining how to close. TY

[@myfamily9393]

Bruh same

[@Enzo_aka_PKwarrior]

This is perfect. Everyone shows how to place an options trade (of any kind), but rarely anyone shows you how to close one.

[@Phenique35]

That's been the reason I've waited to purchase my first option contract. I'm interest in buying option calls, but didn't want to do it without understanding my options to exit.

[@yasssgawwwd5643]

More KZbinrs are showing how great it is to get in:) but then we don’t know how to get out👍🏽🙌😂Thanks!!!

[@BradFinn]

You’re very welcome

[@NewzAndReviewz]

Right!

[@CantTreadOnMe]

Yooo my dilemma exactly!! I thought selling would be as easy as buying. Man im so confused about how to get out but im about to watch this video a 2nd time cuz my little brain couldn't pick it up fully. Maybe ill have bigger brain after 2nd time....

[@yasssgawwwd5643]

@@CantTreadOnMe yea it took me time to not just watch the video but there’s other aspects about options like, which price is safer to choose? Not just choosing it cuz the credit is higher and you’ll make more but the delta is high which means the probability of you making that isn’t high unless you’ve watched that stock for atleast a year.

[@CantTreadOnMe]

@@yasssgawwwd5643 Yeah im itching to buy a call on AMC right now but I cant afford to buy the actual contracts I want cuz I bought more amc shares and I just invested all my 5k savings into crypto so now im limited to $150 I have left til payday Thursday when I add another $100 at least. Im happy with where im at with my portfolio but really want to make a play on AMC but didnt put enough money to the side to get ones I want which is $38 6/4 call and $42 6/11 call. Im just trying to figure out the selling part b4 I possibly buy 1 or 2 contracts this week. I wonder if their is a site that has options paper trading? So I can visually walk myself through one start to finish. I can find paper trading for regular stocks but not options anywhere.

[@jonathanperez4452]

Thank you for the video! You are the only person on KZbin taking the time to explain these complicated strategies and simplifying them for beginner traders. KEEP UP THE GREAT CONTENT!

[@BradFinn]

I appreciate that!

[@ppatra06]

This is a fantastic video for anybody that is starting with options trading. I learnt so much of this by trial and error which is never a good idea. Wish this video was available when I started. Also @brad love the way you teach. You are indeed a teacher at heart be it physics or options☺️

[@srf2112]

I've narrowed my "guru group" down to three here on Y/T. You are one of them. You all have a similar ethos as far as strategy. High probability, consistently profitable options plays with somewhat limited but consistent profits and consistent risk associated. Thank you for doing a good job teaching about this very organic yet somewhat structured subject.

[@BradFinn]

Cheers.. Thanks Roy

[@ek9696]

The theory behind this initially was excellent. Ty

[@BradFinn]

Thank you

[@tomtraveler7838]

Your video was put in front of me because I was looking on closing options so the algorithm is now working for you brother. Have to say I’ve watched a couple of your videos now and you do a better job than anyone I’ve ever encountered on KZbin in terms of explaining options trading. Thank you! I will be signing up for your course.

[@BradFinn]

Cheers Tom! Thanks for the kind words

[@tracy4813]

Found you a little late in the game.....Your ability to "explain/teach" is INCREDIBLE!! Thank you!!!!

[@BradFinn]

You are very welcome Tracy. Please consider KZbin's new "Tip Jar" in the future ( "thanks" near the like and dislike) if the videos make you a buck or two and you wanna buy me a beer! haha

[@na2ralbeaut]

This is the MOST helpful video that I’ve come across! I haven’t found any that talk about closing options - not even in the course I paid for. Thank you! 🙏🏽

[@BradFinn]

Cheers. Please share with others!

[@kaedenbatz6801]

A handful of videos later and I finally found the right channel to describe this not only with great examples but in a way that made sense. Thanks!

[@BradFinn]

Cheers

[@matthewmerchant4063]

I just started doing covered calls this week and I sold just over 1k in premium, just got into this type of trading and don't understand alot in this video but I love how you explain things very simply, letting all this stuff marinate ;-) keep up the good work, I'll keep watching!!

[@BradFinn]

Thank so much!

[@edmandell3064]

If your selling options you can let them expire worthless. You don't have to buy to close. You keep your premiums either way.

[@thomasinedouglas1280]

Yes, Thank you! Finally, someone is talking about this subject.

[@BradFinn]

best of luck

[@michaelmcdaniel2742]

I’ve been very hesitant to buy someone’s course. They never feel like the right fit. I think I’ve only watched maybe two of your videos at this point and I’ve already decided that I’m buying your course. Finally found it!

[@BradFinn]

If you go to my insta "bradfinnfinance" there is a coupon code for $128 that expires this weekend. Its in my bio in the linktre

[@rishigovindhan4619]

man really confused about this topic for almost 5 days thank god you cleared thank you

[@BradFinn]

Cheers

[@rishigovindhan4619]

@@BradFinn thank you man

[@abdulg4762]

I’ve seen about 7 videos from Brad so far and in every single one I’ve learned something new that I will for sure be using to help grow my portfolio. Thank you so much for this content 🧠🙏🏽

[@BradFinn]

Cheers man. Thank you

[@armithel3133]

Thanks for the hard work making this clearer to understand. I dig your explanations more than most, you really dial in on what each term means. For those that are like me, the Buy to open/close, Sell etc is EXCEEDINGLY confusing with all this option stuff so thanks for ELI5. Sidenote: i love when the camera randomly focuses on the stuff in the background. Nice guitar!

[@BradFinn]

You’re welcome. Thanks for the comment

[@useemehere2]

Great explanation I watch it 3 times from start to end to make sure I clearly understand it before jumping to Option trading because I only know hpow to get In but getting Out is so complicated but because you explained it clearly now I'm more confident to do this in real time action. Thank for showing it in your white board very helpful.

[@alisastieg2059]

SAME!!

[@utprez]

duuuuuuude! literally the most incredible aha moment ever when you said "I'll have a plus 1" and you clicked on sell to close (on the DBX example) I gotta tell you that ever since I started learning about options (1 month or so) I never understood what it meant when someone said "sell to close" because I thought to myself - how will "they" know that I am selling to close *my* position, like how will the sell connect to *my* call? reading that back, it sounds ridiculous but it had me so intimidated to try spreads! you explained this in a way that makes total sense to me. thanks! subscribed

[@BradFinn]

Thank you for the kind words

[@Future_looksbright]

This is great for beginners such as myself. You answered a couple of the questions I’ve been trying to find answers to and you explained it all very plain and simple. Thank you!

[@BradFinn]

Youre very welcome.. Please share with others that are trying to learn this stuff!

[@edainari]

Just came across your channel. I'm a new investor in options (2 months in options trading, 3 months in stocks). Although I LOVE options, they've kicked my butt more than once LOL I really enjoyed this video, despite your addressing subjects more advanced than I knew existed (so my brain had to really hang on for the ride! LoL) but you REALLY expanded my knowledge, so thank you! And you did so in such a way that even though my brain felt a little in over its depth, you explained these concepts in such a way that my brain was able to wrap around them and prep itself for the next advance. Terrific job! And thanks again!

[@johnhynes834]

This is so informative that I need to watch it again. And then even more again. Thanks and hat tip Mr. Finn!

[@BradFinn]

Thank you John. I appreciate the kind words

[@adamk1520]

For the life of me, I could not find any instructional videos on this topic. This is the first one. Amazing.

[@BradFinn]

👊🏻

[@NaohmConnor]

Been researching a lot about options lately and your videos have been really helpful! Especially this one as everyone loves to push spreads as a way to lower the need for capital but gloss over how to get out of them. Thanks!

[@GoFast4Me]

Finally explained selling the option, just in case, to mitigate loss. No one seems to tell you what you did in the last 2 minutes. Thanks!

[@BradFinn]

Cheers

[@charlesamberwilliams1257]

I thought I knew options.... Sheesh. I have a LOT to learn! Great video! Def gave me an idea for a new game plan on Monday!

[@yomi001]

Great video! It was interesting to learn about the potential difficulty of closing spreads due to liquidity problems. Thanks!

[@BradFinn]

Very welcome!

[@jotaformigli5555]

Brad, I follow you from Paraguay and you really explain in an easy way what for many is difficult to understand.

[@BradFinn]

Thank you so much for the kind words

[@niacolton1568]

Omg, THANK YOU! I've been looking for this exact information for a while now!

[@BradFinn]

Glad I could help!

[@srf2112]

Exceptional tutorial video. I'm brand new to options and trying to internalize the basics and strategies. You're the first Y/Tube "advisor" I've found to give these particular crucial fundamental details. Thank you.

[@BradFinn]

Thank you!

[@99tonkaman]

Dude your videos are super helpful for learning basics. Also I appreciate the PBR tallboy in the background. I'm holding some options I feel good about and sold some covered calls getting close to exp and was getting concerned about it showing negative. This helped me feel a lot better about my positions

[@dannisichen]

Great Brad! Some option trainers dont even bother illustrating closing option positions which I think is most basic. You also care to share not just winning trades but losing ones as well. A good reminder that options are not always winnings.

[@BradFinn]

Well, someone wins in every options trade. Sometimes unfortunatly it’s the other side of the contract.

[@bp2377]

Thank you for keeping it simple! I have been researching and spending tons of time on learning options, but no one is telling you how to exit them. Totally agree with the others, learned more here in 5 minutes than the last 15 hours I have spent educating myself. Great shot with the PBR in the background , you need to try some micro brews...up the game :)

[@BradFinn]

I own a craft brewery. My micro brew game is strong :)

[@jet0577]

Why does KZbin hate these videos? They are educational

[@BradFinn]

They like click-bate and drama! Thanks for watching.

[@la2atl]

Phenomenal video. Thanks for articulating these concepts so well!!

[@BradFinn]

You’re welcome

[@smanucha]

This gives a lot to think about, and it makes sense why sometimes it takes a long long time to get filled

[@brandonk5932]

Thank you, this is exactly what I was looking for. You're a really good teacher.

[@BradFinn]

Thank you

[@greeniek5vids]

great video , not seen a better video on options and how they really work in practice . this truly is very educational thankyou

[@BradFinn]

You’re welcome. Please share!

[@RossCampoli]

Lots of people have an entry strategy but no exit strategy! 📈 Really great info here! 👍

[@BradFinn]

Thank you so much Ross. I appreciate the kind words!

[@dieselviper7811]

Yeah definitely learn this before jumping in head first. I’ve never exercised an option or really wanted to

[@MrSajisam]

Excellent! Look forward to more !!!

[@BradFinn]

Cheers

[@1234waveskier]

Finally, someone talks about how to close out an option. Thank you!

[@BradFinn]

You’re welcome

[@davidbailey9394]

Brad is the most underrated youtuber out there, I appreciate you sharing your knowledge. Also your podcast is badass! 🤙

[@BradFinn]

Thank you so much for the kind words. I appreciate the support!

[@Mod2ForPrez]

Thank you so much Brad your videos have helped me so much. I sold my first CC yesterday and thought I was losing money because it's price went down when in reality I made $2 on it already. You explain things perfectly for us normal folks, thanks again!

[@BradFinn]

Thank you so much for the kind words. Im glad it helped!

[@ranvierion]

yep! if you sell a option contract. You WANT the premium of the contract you open to drop below the premium you were paid! So that in the scenario you wish to pay to close the contract, you pay a much lower premium and thus you profit on the difference. Or of course if you option is way out of the money, you can wait for it to expire worthless and it does not matter what is the premium is at the expiration day because you don't have to pay anything and you will get to keep the full premium you were paid.

[@SunnyUBC]

Such an important topic covered beautifully!!

[@BradFinn]

Thank you so much

[@Jibbler1976]

Great video explanation, without spending a ton of time on intrinsic and extrinsic value, which often complicates the understanding of the process.

[@Timmyrobs]

I keep hearing “big ass spread price”

[@7777777Beau7777777]

You want a tight ass spread LOL

[@mercy9970]

After searching for days on exiting a trade...finally you showed up! Thanks so much for this video, I might be 2 years behind but this is what I needed to get started!

[@BradFinn]

Best of luck

[@dirtybird311]

Like Mike Tyson said, “Everyone has a plan until they get punched in the mouth!” Great lesson.

[@BradFinn]

Facts

[@tomfoolery8468]

I’m only doing covered calls at the moment, scared of the unknown. Your videos are helpful

[@BradFinn]

Right on. Best of luck

[@robinscottmarsh846]

Good revue in general, but could you talk about the "Roll" function on the ETRADE Platform???

[@BradFinn]

Once again.. never used it

[@anapierakon]

Awesome video! I shared this video with my brother because he was in a situation that I believe this video would benefit him after watching. Btw…this was his first attempt at options trading

[@BradFinn]

Awesome! Thank you!

[@ludwigmangones2319]

You are still the best at explaining options. I truly enjoy the white boarding, it shows that you are an educator. BTW, I am making some money following your 100% win covered call strategy. Thank you very much.

[@BradFinn]

Music to my ears. Thank you for the kind words!!

[@eminalopatyuk6812]

One of the best explanations on options trading. Thank you, much appreciated. And you sound like a kind person.

[@BradFinn]

I appreciate that!

[@dallasbathtubrefinishing]

you are a great teacher! Explained everything in less than 23 minutes. I feel I have more confidence with options. I completed a service job last week. The man had 3 monitors set up and was day trading, I asked if he was in the middle of a trade because I did not want to bother him. However, I needed to explain something about the job. His reply was "it's all run off an algorithm". He said he worked for a company and knew very little about trading. I could sense he was being honest about that and I thought to myself it would drive me nuts! Not having an understanding of what I did for a living. Maybe he had very little control... However, I want to understand or at least have a basic understanding of why something is being done.

[@BradFinn]

Everyone has their own theory’s of how the market works

[@BradFinn]

Everyone has their own theory’s of how the market works

[@charlined6171]

Ur video was a life saver...thanks for teaching me what others videos failed to do.

[@perkyb1213]

I was late to this vid. I screwed up and didn’t know how to get out. My broker help line was useless. Thanks, now I know and feel better for future trades.

[@BradFinn]

Right on

[@ross-smithfamily6317]

I learned how difficult it can be to get out of an iron condor when I entered both sides of the trade at the same time. Now, I open each side of a credit iron condor separately, and I look to close one of the sides for a low buy price as far ahead as possible prior to expiration to give me maximum flexibility in the trade.

[@marilusiete1230]

Hi Brad. When I do a buy close of the contract, they take the shares from me and pay me at the Strike price??? Thank you for your help with this fabulous video.

[@BradFinn]

No, the contract closed. There is no exchange of shares. Just premium

[@marilusiete1230]

@@BradFinn Gracias Brad por la gran ayuda q me has prestado a mi y a muchos. Maravilloso

[@strat_us]

Thanks. Your video is the first one I saw, which states the difficulties in closing spreads(basket order).

[@philip48230]

Very good…. Straight to the point, no BS chatter. 1st one I’ve seen that explains what I suspected was a critical point … getting out. Thank you.

[@BradFinn]

Thank you

[@sharadpandey1589]

Thanks Brad - very useful video, saved me from a bunch of mistakes. No-one else is talking about this aspect and learning it the hard way otherwise !

[@BradFinn]

Thank you so much!

[@rizerchris]

Thank you for the video. I just started doing some options trading this week and was able to sell them like a normal stock trade. That seems easier than creating a new contract. Perhaps it's the same thing, but seems like less work.

[@BradFinn]

Best of luck Chris

[@marcuslee2026]

Yes! Literally got into trading a few weeks ago... lost maybe $100 dollars because I wanted I jumped into some calls and didn't know how to close properly. However, I learned from it and today I closed over 600% in gains today!

[@scottpatrick4819]

First video I’ve found that actually explains how to freaking do options! Been looking into it for a cool min too! Super helpful man!!

[@BradFinn]

Glad it was helpful!

[@kennethcorley5150]

I’ve been watching videos for 2 days now and haven’t felt comfortable enough to start investing. This video changed that and I’m going to go watch a few more. Thanks.

[@BradFinn]

You got this!

[@mj-hz2yu]

New cubbie based off first 5 mins. You speak slowly, concisely and in simple terms. Can't wait to watch more videos.

[@BradFinn]

Cheers! Here before 100k!

[@danielbass1234]

Wow!! Brad This video has SO MUCH Value and Information, I'm going to have to watch it a few times to soak up all the info. Thank you for taking the time to make all of your videos. These are Great !!!

[@jodii8497]

Thank-you, Brad, you are a great teacher, keep it up!!!! I feel like I have been searching for this exact video for months.

[@tmiles9747]

i'm gonna watch this a couple more times to really get it. thank you for sharing.

[@BradFinn]

Cheers

[@jenniferadam8052]

Helpful video. I especially like the real case scenarios within the stock trading sites - please do more of that, thanks!

[@BradFinn]

More to come!

[@MsTwilightSpeaks]

Very comprehensive and covered details most KZbinrs don't

[@BradFinn]

Thank you

[@NeeshV-te4kc]

These are the things to be taught first. I thought that if the stock goes as I wish then just close the position simply and the net profit will comeback automatically. That was wrong. Buy to open- Sell to close Sell to open- Buy to close Could you do a video on how to full fill assignment/exercise the option. Also how the Greeks affecting the option price in detail. Thanks

[@BradFinn]

you should NEVER exercise and option kzbin.info/www/bejne/iaGVqHaPoshmi68si=VOSMufUZaU8XjcZK

[@ieugeniya]

Thank you 🙏🏻 ❤Brad!!! 😅where have you been all this time!!! This is priceless 💪🏻👏🏻!

[@BradFinn]

I’ve been here. Sometime I can be hard to find

[@ieugeniya]

@@BradFinn I hear you! Thank you very much for sharing your knowledge ❤️🙏🏻!

[@jontonluvwonton]

Yup, this is the video I was looking for. Started trading with paper money yesterday and realized I had no clue how to get out, to claim profits or mitigate losses. Thanks dude

[@BradFinn]

You got this!

[@glennpesti6519]

You are doing better on giving us the information that we need than most other KZbinrs

[@BradFinn]

Thank you

[@ericfernald4818]

Great video! At what time do options expire on the expiration day? If I sell a put with a strike price of 21.50 expiring on 3/26 does the option expire at 4pm of the 26th or 11:59pm causing me to have to wait through after hours of that Friday before the put expires? Also do I have to close the option or will it close automatically when expired? I’m currently using RH as broker if that helps. Thanks a lot in advance.

[@erlinavicente7411]

Another nice video! Ok here’s a question... I have virgin galactic Covered call @ $30 strike, to tomorrow Friday it will expire. It is now $31(Thursday). What should I do? What happens if I want it sold, I worry the price will go below $30 for end of day on Friday. Also, what blowing in the wind might be a potential short squeeze also this Friday. How do I play this one? It’s cool if I don’t hear back soon ASAP. I would really appreciate what moves I could have made for more profit.

[@deepikameenakshisundaram1748]

Best videos, i got learnt clearly about how to close sell/BUY options, how it contracts initiated. Awesome!. Question: sometime when i sell to open when i don't have buy calls Robinhood doesn't allow to open sell call option. Do you know why?

[@Phura3534]

wow Thank you it feels like i have a week or more listening to you but its just a day. thank you i will keep grinding. am hooked

[@BradFinn]

Best of luck

[@marilynwheaton9047]

Really helpful. Brad is very knowledgeable. Explanations are clear and easy to understand.

[@BradFinn]

Thank you!

[@marilynwheaton9047]

@@BradFinn Thank you! You're now my favorite options teacher on KZbin. Excellent presentation.

[@oneslackr]

Thanks Brad. Even though this video is 2 years old it's still helping beginners.

[@BradFinn]

Right on! It is pretty timeless

[@johnbF14A]

One of the best Option videos I have come across! Brad you simply explain a complicated subject.

[@BradFinn]

Thank you for the kind words

[@evil5188]

Thank you quick question. If the cover call expired out of the money, i can just leave it right or do i have to buy back the option?

[@solomonmorph1416]

love the way you explain basic knowledge on options, ready to watch more videos you posted.

[@BradFinn]

Awesome, thank you!

[@stacyjohnson7395]

Thank Goodness I found your channel your style of teaching Options trading is easy to understand and very informative👌🏾 Thank you😊👍🏾

[@BradFinn]

I appreciate that!

[@guruchoo]

Hey Brad !! In covered call sell to open& buy to close later is right process ??

[@BradFinn]

Bingo

[@dylanorourke735]

You could make colleges shutdown with this type of content. I'm 10000% positive you help many more people more significantly than you're aware. Thank you!

[@BradFinn]

I appreciate that! Thank you for the kinds words

[@Dovey14]

It's clear as mud! The theata of my option learing is drawing negative!

[@officialgoldrush]

This the main reason i haven't attempted it yet. This was my main concern is learning this step first.

[@BradFinn]

Hope it helped

[@theman55cf]

Thank you for making these extremely helpful videos. You have helped me make sense of all of this. I'm patiently learning the correct way now.

[@BradFinn]

Great news bud. Good luck!

[@froggy9068]

How basic is your course? I've been selling covered puts and calls, so I know the basics, but I would really like to learn more. And if like to be able to ask questions via email or text, do you offer that with your course? Thanks ...And great vid btw, first time I've watched you!

[@BradFinn]

Designed for someone who knows nothing

[@justineconnolly6445]

Thank you so much for this video. I watched so many videos on how to buy options but nothing shared how to get out of them but you.

[@BradFinn]

You are so welcome!

[@michaell6995]

First time watching your video, you a life saver. I just opened a 4 legged put option and do not know how to close it. You made it so easy and without the tech jargon. I was wondering I can close any leg of the option at any time correct? Thanks Brad!

[@BradFinn]

Not generall in a spread (multi leg option) because usually one leg is being used as the collateral for the others.

[@michaell6995]

@@BradFinn Thanks for such a quick reply! That makes sense, otherwise the other leg becomes naked. Now What is the idea time frame to close out the option? (btw, it expires on 12/10/21) Thanks again.

[@sjaw100]

Brad I really need your help. Did my first option trade on 13 Jan 23 by selling a (cash covered) 90 put on Google expiring 17 Feb 23, and collected a premium of $355. When I looked at my account, I found that there is also a profit of $66 dollars. I have always thought that as a put seller one should allow the contract to expire - don’t have to do anything. What should I do if the profit continue to grow? Buy to close in order to take profit? Would I lose the collected premium? Kindly advise.

[@BradFinn]

I unfortunatly am not a cerifified financial advisor. I can’t legally give advice on investments.

[@peterstone5862]

So I'm looking for some more clarification. Are your profits with options driven solely on what someone else is willing to buy your contact for and not so much how much the stock is moving? Like if the stock has gone up past your strike prices but the expiration date is nearly up. Why would anyone buy that from you. Would I be correct in thinking the value of the contract would be lower at that point?