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All lessonsLesson 27 · Step 1/5

Rolling & Trade Adjustments

What is rolling?

Rolling = closing your current option and opening a new one — further out in time, different strike, or both — in a single order.

Roll out (same strike, later expiration) to give a trade more time.

Roll up/down (same expiration, new strike) to move with the market. Rolling out AND to a new strike is the most common repair.

Golden rule

Only roll if you can collect a credit. Rolling for a debit means paying to keep a losing idea alive.

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