Exit the spread now for 0.50 or better, since, as I noted here earlier and in the chat room, I’ve seen this movie a hundred times before and the March calls are just sucker-bait at this point — dead meat regardless of whether the broad averages rally to the moon. It was my error to have neglected to take off half the position prior to the last earnings announcement, since no conceivable news could have improved on what had already been anticipated via the stock’s run-up from $19. ______ UPDATE (February 25): I’m going to record a $1300 profit on the trade, implying the spread was exited for around 0.40. Chat-roomers have in fact reported significantly better results, but this was because they acted on their own initiative to take profits before I’d advised it.
