Rolling (IRA): EWZ December 17th 33 Short Call to January

... for a .22/contract credit.

Comments: Rolling the short call leg of my EWZ long call diagonal on approaching worthless (it's gone nearly no bid), the long leg of which is at the 25 strike out in June. (See Post Below).* My cost basis in the setup is now 6.37 with a 31.37 break even with a profit potential of the width of the diagonal (8.00) minus my cost basis (6.37) or 1.63 (163/contract).

I considered just allowing the short call to expire worthless, waiting for a bounce, and then re-covering the long call leg, but you never know if it will continue lower or sideways, at which point you say to yourself, "Well, if only I would've remained covered, I'd have reduced my cost basis further."
Beyond Technical AnalysisEWZlongcalldiagonaloptionsstrategies

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