I sell slightly out of the money puts every month. I do it on quality stocks I wouldn't mind owning at those lower prices. My question is, when do you guys take your profits and close the position? I have a bunch of May puts that are now way out of the money. A lot of people subscribe to the theory that you close your position once you've made 80-85% of the premium not to risk a catastrophic event. If I do that though, I'd be leaving a lot of money on the table every month. Those $0.10 - $0.15 options do add up. Just interested to see what different strategies people use. Thanks.