Hi all, First time poster. Like to read this forum during my spare time. I have some questions, appreciate if someone can answer them for me. 1. What happens if you do not buy back your debit credit spread? Can someone explain to me what happens if you do not buy back your losing debit credit spread before expiration? for example, if one wing of your iron condor is in the money, and you do not buy back that losing spread, what happens on expiration? do you get assigned the stocks on your short option of the losing wing? and then the short stocks then get automatically sold by the brokerage via the long option of the losing wing? in that case, then you automatically just lose the difference between the option strike prices (e.g., a few thousand dollars), i.e. difference between the option prices of the losing wing? or do you get a margin call for the short option, and then your long option has expired, so now you have to take on all of the stock (e.g., a few million dollars or tens of thousands of dollars)? I don't mind losing a few thousand dollars which is the difference between strike prices of the spread, but I don't want to get a margin call while my long option from the wing's spread has expired. And now I owe tens of thousands of dollars or more. Does the answer vary by brokerage? Do I need to call my broker to find out? 2. How can you close your winning spread? Also, how can you close a winning debit bull call spread early? if the stock has already moved up past the short option but expiration is not for many months, it seems to me that I cannot close early for profit, because both the option and short option has increased by the same amount! Sometimes I even lose if the cost of the short option in the bull call spread has increased greater than the cost of the long option, in the bull call spread. So the stock is doing what I want to do, ie it is going up before expiration, but I can still lose money? how do I get the profit money that is the difference between the strike prices? Thanks, Sfcaguy