(These are all September puts- one of each) +945 put +920 put - 880 put - 800 put I was hoping to buy back the 880 put today but never did thinking the market might go up a bit this week after a 3% drop. I was thinking about buying back the 880 and selling another 800 to offset the cost. It would cost me 2400 dollars & commision at the close today. Is it worth it if you have a negative outlook to buy back the 880 now or close out the 920\880 positions at the same time if it hits the 880 strike? The IV for the 880 is 30.52 & 800 is 34.3 so I'd be selling a higher IV strike. Any advice for a newby? If I buy back the 880 with no offsetting sale I will still be below 3% of my trading capital on the SPX index options.