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Options folks,

On 9/29/2020 I bought-to-open the 1/21/2022 call, strike price $140 on Alteryx (AYX) for $21.65. The stock closed at $113.80 that day.

My thinking was that AYX share price would reach $140 and beyond given enough time. Due to their Q3 revenue raise press release yesterday the share price is $144.05 as I type. I see the mid-point for my option is currently $40.28 (with a large almost $4 spread between bid/ask).

My question: can folks give thoughts on advantages and disadvantages to selling-to-close a LEAPS when the price suddenly pops? I think the share price will continue to climb over the next 15 months - so that tells me to hold onto the option.

OTOH I think the time value has just jumped so I should sell-to-close the option now as that time-value will decay when we get closer to expiration. Does that make sense or am I not thinking about it the right way?

Any thoughts to help clarify my thinking would be much appreciated.

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