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I'm wondering about the current option strategy on WAT. If I hold the current put/call, the shares will be called away at the end of the week at 55, while the shares are at 61+.

Between the put and the call together, I'm sitting on a loss of approx. $215. However, if I let them expire and lose the shares, I'm giving away 6+ points of gain on the stock.

Wouldn't it make sense to close out the options and take the loss, still hold onto the shares, and look to do another (successful?) options trade going forward?

Thanks for any thoughts.

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