Jason, ever roll options?

His answer inside and WHY...                                                                                                                                                                                                                                                                                                                                                                                                                 November 29, 2024 | [Read Online]( Jason, ever roll options? In partnership with Hey Guys & Gals, I’m enjoying the day with my family today but I wanted to pass on Jason’s email to SAJ members this morning. It’s a great way to see the type of education he provides on a daily basis to members. Two new things for Small Account Journey as well: → NEW $2000 Journey starts on Monday (Dec 1st). [Get in from the ground up!]( → NEW daily sessions at 3pm EST to discuss holding open trades overnight (Jason already does a daily premarket session). [Bring your questions at any time.]( INSIDE PEEK: Morning email (11/29) from Jason Bond to SAJ Members A good question came up in the chat room from William that’s not in my master cheat sheet. Question: @jason bond would you recommend rolling the -342.50/+337.50 SAJ position to next week to turn a potential loss into a winning trade? While I can’t tell William what to do, here is what I would do: I’ve never rolled an option. My understanding of rolling an option is that it’s the same as taking a loss and if I like the trade for next Friday too, 12/6, I enter a new spread. Maybe there’s a reason I’m missing but I think that sums it up. Bottom line, rolling does not prevent loss. And as you know with TSLA I’ve already entered the 12/6 spread -$325 / +$320 which should be up nicely this morning as TSLA is trading at $336 — assuming it holds. I’ll get this Q&A added to the master cheat sheet. And again, if a trade I’m in makes it to a Friday with options that expire that day, I always close the trade before the close. And keep in mind, brokers, at least the ones I use, have a risk department in which they will close your trade if you do not — assuming it’s near the strikes or between the strikes. On a normal Friday this is around 3:30 p.m. ET at Schwab. Tastytrade has a nice feature where you can notify your broker that you are in fact watching and intend to close it — though if you don’t I’m pretty sure they still do. Why do they do this? Let’s take my TSLA -$342.50 / +$337.50 bull put as an example. If TSLA is at $340 near the close today I’m between strikes and below the sold strike. If I do not close the trade I’d be assigned the short strike but no longer have the bought strike as my defense i.e. risk defined spread trades. The bought strike expires and I’m assigned a huge position of stock. If something crazy happens to the stock Friday night I can blow up my account that way. Keep in mind you’d have to have a huge account for the broker to assign you the stock. Think of it this way. I buy the out of the money put to define my risk by protecting me if A) something crazy happens to the stock during the week B) if I get assigned early I have the bought puts I can exercise. Make sense? But at Friday at 4 p.m. ET (normally, 1 p.m. ET today) I no longer have those bought puts as my defense. Again, brokers know this and that’s why they sweep their members’ accounts for anything near the spread and exit the trades for you. I’m not sure if all brokers do that but you could call to see. I know Schwab and Tasty do. I hope you can see the amount of time Jason puts into his teaching.  If not, I invite you to read his [TrustPilot reviews]( and see for yourself! There’s a reason why Jason has earned near perfect score over 1170+ reviews. As we always say, we’re not selling a toaster oven here… but stock market education! Let that 4.8 Star Rating sink in when you put it like that! [So if you’re not already in Small Account Journey, Jason is having a HUGE sale before the new $2k Journey starts on Monday.]( Give it a look here before this clock runs out or the last <20 seats are gone! Cheers to you and yours! [signature] P.S. As always, for questions about any of our services, contact our amazing sales team at 1-800-585-4488 / davis@ragingbull.com. They’d love to hear from you! In partnership with Hands Down Some Of The Best 0% Interest Credit Cards Pay no interest until nearly 2026 with some of the best hand-picked credit cards this year. 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