OK guys I've got an NDX B-Fly (June)1625/1650/1675 debt $ 4.15 I expected the NDX to come back and perhaps outperform the mkt in general by June exp...needless to say it hasn't (so far). It is very volatile and certainly could rally 50 -60 pts in 9 days. However in looking at it, my 1625's have a value of 4.80 while the 1675's are at .65. While I understand to max out the b-fly you hold it as close to exp then close it out (the entire spread)... if I just rolled the 1625/1675 I would create a 1650/1675 credit spread basically breaking even...which would be a good thing if it doesn't rally 50 pts. If 1650 was way OTM I think doing that to salvage some of your trade is probably worth the risk...however in this case not so sure. Do any of you ever do this? Is it in general not a good idea? When would you do it if you do it? Thanks..A