BelleWeather : oh, dear.

BelleWeather OP Trailblazer_Empire : I will keep these LEAPS open until July 2026 at minimum, and continue to write against them. I’ll close the shorts or allow them to expire, then when IV expands or price rallies high, write against them again and repeat as many times as possible. These I will likely then sell. But I’ve others at far lower strikes (they were OTM at purchse,) that I may exercise. I am bullish on ASTS.

BelleWeather OP MrTickleB0ttoms : Yes. Buy the long legs when share price and volatility are both low (especially helpful for LEAPS as they are sensitive to vega.) Hold through as it appreciates (hopefully,) then when share price is high and volatility expands, write against them. I prefer to do so in tranches, close to the money for rich premium and rolling up as I add if necessary. Wait for the shorts to decay and either close or roll up and add some more if volatility expands again. Repeat as many times as possible. This allows one to maintain long exposure over time (in a capital efficient manner,) while taking profits and recouping extrinsic such that decay on the longs or exercise is reasonable. Also the shorr legs hedge the position.

BelleWeather OP MrTickleB0ttoms : (The idea being to take profit many times over.)

BelleWeather OP MrTickleB0ttoms : I check volatility in the chain and write when high. It always collapses. I generally write close to or ITM and don’t panic when challenged. May roll out to up to 50 DTE for rich premium. But if I wish to hold the shares or long contracts, I just wait a bit. Roll up in profit but hold the expiry and so on.

BelleWeather OP MrTickleB0ttoms : It isn’t necessary to close. And while profit is always great, more is better. I suggest you remain calm and do nothing. If I can help, Ill be available after close.

BelleWeather OP MrTickleB0ttoms : It truly depemds on the underlying itself and the VIX.