Short call spreads

Discussion in 'Options' started by freedaaron, Oct 12, 2006.

  1. What's the best way to hedge call spreads where you are short? Situation is the options are now 25% delta to expire. Do you butterfly them over and take a loss, close them, or is there another way you can hedge either with an underlying security or buying options more in the money than the short strike in the front month or a month further out.