Under what call circumstance would you sell to close (sell) an option position?

Answer 1

(1) Unless there was an event (that I thought could have a major impact on the price of the underlying, such as an earnings release) scheduled prior to expiration, I usually close a long call at least two weeks prior to expiration to avoid the rapid time decay the occurs as expiration approaches.

(2) If the option was one leg of a spread and I was closing or adjusting the spread.

Answer 2

I thought you are not supposed to let options expire.