well you are still making a nice profit ! SPY 215.50p in @ 1.34 out @ 2.23 ,...nice ! thats almost $1 on each contract
5 x 1.34 = $670
5 x 2.23 = $1115
$445 gain,....nice day so far,...do that 5 times and you've got a $2k a week on trading the SPY 8^)
so,...even though you made a nice handsome gain it appears that by your post you are seeking to hold a bit longer to hit the higher premiums ($3.30 ),...
have you worked out a plan to stay longer in the position and reap the higher rewards ?
it appears that you are getting the direction correct,...what if you bought 10 contracts,...sold 5 at a 50% gain,...and then hold the other 5 contracts for the potential move up,...set a stop loss at where you see it moving.
a nice profit on the first five and you can always sell the remaining 5 if SPY reverses.
invest at your own risk, based on your own due diligence, at your own risk tolerance
