Closing an option position when volume is low?

[RichgovlyNc]

Hey all!

Just a question, I put on some trades for earnings the other day (Iron condors!). Now that the news are out the day after I want to close my positions but i cant! The open interest is showing quite a large figure but the volumes are down to almost nothing. So i guess quite a few people cant get out of their trades if I've understod open interest vs volume correct.

On the other hand the DTE is zero so it will disappear from the account anyway but from what I've understood the best thing is to close out when you have a winner in case it turns into a loser.

Thansk for advice.

[Robdaps]

I'm assuming you sold for credit? If they are not ITM after close they will expire worthless. What is the ticker and short strikes? but ye if you can close them it's better to take them off.

[rivirduxhasim]

Also ...the one that is furthest from being ITM is probably the one giving you the most problems in getting filled...you could just close the more expensive side first just to see.

[RobertFag]

Yea sold for a credit. FB 105c/87p, LNKD 260c/197p, WYNN 105c/89p. All the same, cant close them..