Rollover?

I have read that it is possible to do something like "rollover" an option you own to a later expiration month.

How do you do this?

 

close old position (or leg), open new position (or leg). nothing fancy

 

As the other person noted, it's jsut closing the existing and opening a new one. You can do it as a single spread order though for a net debit/credit. For example, you have a long call and you want it to roll to the next expiration. Selling a call in the front month and buying a call in the back month is a calendar spread. So you can "roll" a long call with a calendar spread order.