MOS - Mosaic has been a tough one this month. Hind sight says we should have covered the 120 strike last week when the stock was near 95 to 96. Now the stock is above the 120 strike and in danger of costing us profits on the entire trade. My recommendation is to close out the entire position (call and put). At one point, I looked at covering the 120 and selling the 115 or even the 110. At the time, it didn't make sense. However, we could cover the 120 and sell the 125. But the stock is only a stones throw away from that strike. FYI - my suggestion is to just close out the position and live to play another day. Earning season can be a pain. We brought in about $5.70 per contract and it costs about $5.40 to cover the position. Basically a wash.
Just a hypothetical but Murphy's law will come into play here and the stock will drop 10 points by the end of the week.