Good afternoon, I'm trying to learn more about spreads and straddles and have come across the following situation "virtual-trading" ITMN: On 3/18: Bought one Jul 10 39.00 Call option for $8.70 Bought one Jul 10 37.00 Put option for $7.80 Around 3/23, the stock price for ITMN climbed past $44 (today it closed at $47.70). At that point, my call option's increased worth was about a hundred or two (can't remember exactly) more than my put option's decreased worth. Since I felt that the increase in the underlying price was temporary, I took the following action: On 3/25: Sold one Jul 10 44.00 Call option for $9.50 All in all, at market close today I have the following position: ITMN Jul 10 37.00 Put --> Qty 1 --> Price $4.70 --> Mkt Value $470.00 --> Cost Basis $780.00 ITMN Jul 10 39.00 Call --> Qty 1 --> Price $13.65 --> Mkt Value $1365.00 --> Cost Basis $870.00 ITMN Jul 10 44.00 Call --> Qty -1 --> Price $10.30 --> Mkt Value $1030.00 --> Cost Basis -$950.00 Here's what I'm wondering - was selling the call the right decision, given these circumstances? I wanted to lock in some of the profit (in case the stock dips back down below $44), but now that I look my trades over, I'm wondering if I too sharply limited my upside potential and caused my overall position to have an unrealized loss due to the original put purchase (which won't quite be offset by the $5 difference between my long and short call positions) - or is this unrealized loss only applicable if I hold til expiration? If you were in this particular position, what would you do? Again, I'm just looking to learn, so I'm quite open to the possibility that one or more of the actions I undertook were idiotic. Thanks!