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Simple Long Call Question
Sunday, May 12, 2013 8:08
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Hello, I’m new to options trading. Is someone allowed to “sell to close” a Long Call before the strike price is reached?
For example AAPL is at about 402 a share now in middle of May. I come in and buy 1 contract of “Jul 20th – $600.00 Strike” for .35 cents for a total cost of $35.
Say in June AAPL moves up to about 520 a share. Can I lock that profit in by selling to close the call now? Or do I have to wait until it hits the 600 strike price or until the expiry date on July 20 to find out what happens?
Thanks.
Source: http://www.traderslaboratory.com/forums/options-trading-laboratory/16364-simple-long-call-question.html
