Today's the day people!
The big question for me is, will I be able to navigate my portfolio through this land mine of ITM option spreads?
My ITM plays are KO, AFL, HSY and TWTR.
As for my other two ITM trades, QQQ and KO, yesterday I rolled out my August KO $39 covered call into a $41 November. I started with a $90 credit, after this move I'm left with a NET credit of $35.
I also rolled out my QQQ August 95/96 credit call spread into a September 96.63/97.63 call spread. This move cost me $480, which ate up damn near all of my $500 original credit. So now I'm only left with a $20 credit.