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No. of Recommendations: 0
I started paper trading options through TOS to try different strategies and get a feel for how options trading works . . . without burning through my money. I have several open trades but the first one I "need" to take action on is the following:

I have a QQQQ March 07 43/45 bull call spread. The QQQQ closed yesterday at $44.86. With one month to go until expiration and time decay lurking, what is the favored strategy to close this position? Hold out a few days for $45, close it today, roll it or something else? Let's assume I feel the QQQQ will continue its upward path next month.

I was at one of the TOS training sessions last week and he spoke about paper trading. He said no one really paper-trades the way that they trade in real life and instead suggested trading one-lots while practicing new strategies. I thought his idea had a lot of merit. You might want to give it a shot even though you appear to be more diligent than most paper-traders and are really trying to understand how the trade works. Also, I'd ask TOS for $1.50 commissions for single contracts, they did it for me without my having any kind of real volume.

Obviously has a commission interest in having people trade live, but I don't think this their real motivation for the suggestion. One of the other suggestions they made was to "close your junk" or buy back options when they are almost worthless rather than let them expire. They feel so strongly about that strategy, that TOS charges no commission for closing trades of under .05.
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