Stock Price when writing this - $15.00 Buy 1 Call for Jul 5th at strike price of $14 Sell 1 Call for Jul 5th at strike price of $15 If the stock price hits $15, have I maximized my profit and should I be getting out, or should I just wait till 5th July to wait for both options to expire? What is the best way to exit a spread or is it better to just wait for both options to expire? Thanks/
close it before expiration. Equities can get too messy (you could get assigned your short early and before you adjust the long the stock tanks and you lose money on the trade.) You only allow a spread to expire if both strikes are way OUT of the money. In your case both strikes are IN the money. If you have a profit..take it.