Going to buy back the 20 calls here to just have the Jun 23 calls sitting on the table.
I’m doing this for a few reasons:
1. The breakeven in the current structure is at 24. If I add more risk to the trade, the breakeven moves to 20.
2. Losses into jun options expiration could be much, much larger if I leave the short options on. A pin of 23 would be a loss of over 300 per spread. By buying back the short options I’m “averaging out” the risk a bit more.
Order:
Buy to close Jun 20 Call @0.60 or lower.
This is still a “full risk” hedge for me just in case something stupid happens in the next few weeks.