Sitting on a long call SMH expire 3/19/27 strike $330 delta~0.93 IV=0.55. I have owned it for awhile so it is now very far into profit (>$10k). I am still bullish but I want to make an adjustment to take partial profit. I am inclined to roll down to delta 0.80 which would take cash off the table, but the slippage looks brutal so I am thinking about alternatives. Instead of simply rolling I am considering selling a call near ATM (or possibly ITM) to exit the long completely and then re-enter a later date, perhaps when IV has cooled off a bit. Let's assume SMH continues a slow steady climb. Any thoughts on pros/cons of either tactic? Any arguments for HODL? submitted by /u/MerryRunaround [link] [comments]