Suppose you have a bunch of short calls/puts.. which seem to be headed for expiring worthless. I have heard tons of wisdom posts telling never to keep them open and as far as possible close them out , because you never know which one of them will turn against you. I do agree with that logic. however. say you sold the call 10-20 days back.. and u placed the GTC buy back order for 5 cents and now it has fallen in your favor.. and only 2-3 days are left. and there is no way the stock can move. then we can use our discretion and probably cancel the buy back order . NO size fits all rule.. stocks which have no way to moving to cause the option to trouble you, i wud say save the 5 cents on them..