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SESD | I am going to make it a bit more complicated for you by adding a couple more way's to handle this position.
1) You could roll the whole position up exiting your $4.40/$5.40/$6.40 spread and implement a $5.40/$6.40/$7.40 spread. Yes, you are out the $.50 on your first spread but you are also rolling your floor up $1. After exiting the original position you could also just implement the $5.40/$6.40 put spread and wait to sell the call.
2) Look for opportunities to roll the $5.40 put up to your $6.40 call. As a rule of thumb if you can roll up $.10 for $.03 it's a good idea. It might take awhile to get this done.
3) As other have stated, just price the corn at the current level or put on an HTA and exit the position.
Good Luck | |
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How do I finish the trade
