Rolling A Position
How to record a roll in Option Track.
Last updated
How to record a roll in Option Track.
Last updated
Your trade is deep in the money and your contract is about to expire.
Most beginners freak out because that means that they're going to get their position assigned. But... Not really, because you can always roll, roll, roll.
And rolls are now easier than ever to keep track of using Option Track. Here's how you do it.
Step 1 is to simply head over to your dashboard and click on any of your open positions. You will then see the option to roll that position.
When you roll a position, you're essentially paying to close your contract and getting paid to open a new one. It happens simultaneously and almost always, you will be rolling at a profit.
Once you've completed step one, you will see a new popup where Option Track asks you to enter your roll details. You need to grab these from your brokerage account, where the roll actually happens.
You will have to enter your new expiration date, the price at which you're baying back the contract for, and the price at which you're selling the new contract for as well as commissions paid during both transactions.
Part of what makes Option Track so useful is that it allows you to quickly look at which positions are expiring soon.
In your dashboard, you can toggle the option to see only positions that expire soon.
This will allow you to quickly look at which rolls you should be on top of.
Not just that, but clicking on any position – whether open or closed – will quickly reveal everything that you need to know about the performance of your trade.
