Say I have some option positions in Aug, Sept and Oct. If some position in sept or Oct has gone wrong. When is it best to adjust the position? Immediately it has gone wrong or wait till more time premium has run out. ? All options are American style. Thanks for guidance.
You should reevaluate your positions constantly. If at any time you look at a position and not like it, would not add to it, or just feel you made a mistake, either get out, or scale back and reevaluate again. Never let losses run to far, but don't panic out if the conditions that had to get into the trade still exist.
If you are not willing to share any useful info, you should not anticipate many useful replies. Stocks..... credit..... strikes, ect...???
What type of positions? Once you don't like the trade anymore, or your thesis has gone bust, get out of the position entirely. Don't worry about adjustments.