How to Get Out and Exit from a Winning or Losing Call Option - Tradersfly (2024)

So if you already have a call option contract on file, meaning it’s already in the order or trade queue. Now you want to go ahead and exit because neither the positions winning or either the position is losing.

Whatever the case may be, I’m gonna show you how to do that step-by-step.

Normally, I wouldn’t recommend doing single call option contracts. I would definitely recommend you check out some of the things that we have on our website.

There’s a lot better ways to trade than just trading single option call contracts or put contracts. You can do things with spreads and things such as making money from time decay.

Here I have on this trade example where the time value works for you in your favor rather than against you. But when we look at a single call contract here in Facebook.

You can see right now it’s just moving and whipping around, and we’re down about 2.46 dollars. It wiggles here and there on our monitor tab as well.

Now if I want to go ahead and get out of this, maybe because I see there’s weakness in the stock or maybe this was a profitable position.

How would I do this?

3 ways to do this

The first way is go to the trade area and let’s start with the monitor tab.

What I can do is right-click one of my filled orders right here.

I could say create an opposite order and there we go.

What I can do is hit confirm and send. It’ll pop up this box. Then I can send that order in.

The second way is open up your equities right here in the monitor tab.

You can right click and you can create a closing order right here.

So again it’ll do the same thing.

You could analyze the closing trade. It’ll put it in the analyze tab in the ‘Risk Profile’ area . Then you can see how it neutralizes it, whether it be or at a loss.

In our case, since we bought at that forum, we’re selling it up for — it would be at zero.

I could try it and sell it for 4.05 and then I would make $5.

So that’s another way to do it.

I personally will just simply right click this one analyze closing trade and just do it from here.

All these areas whenever you see those kind of red or green items, you could right click confirm and send and then you’ll see this dialog box.

You could go ahead and send in that way. Those are different ways that you could do it.

The final way to do this is from your trade area tab right here..

You could see if you’ve got a ton of positions on. You’ll be able to see a lot of these positions, whether you’re bought or sold.

If you look at the position that I have, you’ll see there’s going to be more of those. The red is short the green is long. You could just do any individual ones.

Let’s do Facebook here.

If I’m looking at my position here, you can see I’ve got a green one, which means I am long.

Do I know how many? It doesn’t tell me here.

So that’s why I like the analyze tab but you could sell one, in our case, and get out of it that way.

You got to know how many contracts you have. That’s why I like the analyze tab. I will see I’ve got one I can right click, analyze and have it right there.

I could try and bump it up and make 4.05 and that’ll be $5 profit versus right now it’d be 3.90 and have a $10 loss.

In this case what you would do is confirm and send. You’ll see that it has a sell order here You’ll also see the working orders here.

Current price is kind of at 3.95 and I’m asking for 4.05.

I may or may not get filled.

If I wait a few minutes maybe it won’t get filled. I’ll right click cancel and replace that order. Bump it down a little bit. You can see from a 4.05 order, I was above kind of the mid and back down to 3.95. I’m kind of in the mid.

I can confirm and send and what you’ll see here is that order is getting replaced right here in this area. It got replaced with a 3.95 order and I can keep doing this process until I get out and try and get lower and lower.

Now I take a loss because I’m not selling at a higher price, right?

We bought it at 4 and if we sell it 3.385. You lose some money and in this case this position was a loss of $10.

That’s because I had it for just a handful of minute.

So anyways, that’s how you would kind of get out of the order whether it’s profitable or it’s a losing position.

That’s the way you would do it in a single call contract.

Even if you have spreads, you could do them individually.

But usually it’s more efficient to do it as a spread or as a multi-order.