Option execution question

Discussion in 'Options' started by asdfghj7, Oct 23, 2008.

  1. Yesterday I sold a November SPY 64Put for 1.05pts. If prices today were to go up, and my put was selling for .50pt, if I put an order in to BUY a 64Put for .50pt and it were executed, I'd be flat, and would have collected $50 bucks. I wouldn't have two positions, correct ??? Thanks Joshua
  2. Yes that is correct, you would not have two positions open ......But to make sure there are no errors select the "close position" option, instead of just buying the 64Put. You might make a typo if you don't use the "close position" option.

    PS.... Was that a naked short position? If so your crazy selling naked puts or calls in todays market.