If my spreads will result in short position in SPY on this weekend expiration. How do I estimate when is good idea to close the options position before expiration and when is to wait for expiration. Need kinda rule of thumb so I dont have to think long about it. All the spreads are puts. ............. in theory I'd say if my long put strike is 100 and dividend is 0.65 then I should trade out the option position if I think it will expire with price < (100 + 0.65). will it do ?