Post by ThetaJunkie on Jun 9, 2013 22:07:41 GMT
When do you decide to roll and when do you decide to get assigned and begin the wheel of fortune? Does it depend on the price of the underlying? If it is a Jade liz and your put side is itm do you roll and then sell a call one strike OTM. T and T talked about that on friday from a confirm and send question.
I think it really boils down to your style. Tom and Tony and Liz and Jenny (and Al!) all have different styles. Tom and Tony have no problem with naked calls. Liz and Jenny seem to not like them, are uncomfortable with them. So they would handle an ITM Jade Lizard differently I believe.
It seems with Liz (at least), she'll take assignment, sell a call and possibly sell another put to lower the cost basis more. I remember her talking about doing that in, I believe, WLT recently. It seems with Tom and Tony, they'll roll and sell the naked call, collect more credit but take on upside risk as that's their MO.
And here's an interesting bit of trivia - as far as I can remember, I've never had to roll a Jade Lizard... yet.
