1 Week Before Expiration
This step is very similar to the previous one. It focuses on how to manage a trade when it’s one week before expiration.
What to Do
1. Look to Roll Out the Position
○ If you can roll out (or up and out) for a credit, then go ahead and do that.
2. Rolling Conditions
○ Rolling for a credit is acceptable.
○ If you can’t roll for a credit, then the instruction is simple:
▪ Go ahead and close the trade.
3. Take the Risk Off
○ When you are one week from expiration, it’s time to take the risk off the table, either by rolling for a credit or closing the position entirely.
This step helps protect your account from last-minute volatility and ensures you're not holding unnecessary risk into expiration week.
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