Phil; regarded your answers yesterday to members on the Butterfly rolls for WYNN and WMT, my question is what would trigger those rolls for you? Once the 2020 come out, maximize the value of the long call, no premium in the short calls? You would generally update positions once a month around the expiration date. Would you have made those adjustments now or would you have waited until Jan when the short calls were expiring? TIA
December 6th, 2017 at 10:25 am
Phil; regarded your answers yesterday to members on the Butterfly rolls for WYNN and WMT, my question is what would trigger those rolls for you? Once the 2020 come out, maximize the value of the long call, no premium in the short calls? You would generally update positions once a month around the expiration date. Would you have made those adjustments now or would you have waited until Jan when the short calls were expiring? TIA