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By 'exit the whole position', do you mean sell the long call too? THAT would cost me money! The long call is down $2.98 since I bought it. Assuming that the stock (and the option price) does not recover before Jan 17, I need to sell more short calls to at least make up for that loss on the long call (and yes, I understand that there is a risk that the long call could decrease in value even more - especially since it's losing time value). I entered the position on MFO advice - athough I can't remember at this point whether is is an 'official' trade or a TYCM - so I don't know if there will be further advice from MFO.
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