After such a fluctuating market, I decided that it would be best to take the position out at a profit of $1,821. The position was taken off on Tuesday the eight. At that point the Delta was extremely negative (-151) and it didn't make sense for me to keep the position trading, especially because the volatility isn't going to drop until Wednesday. This is because the Federal Reserve is meeting and deciding if they want to raise interest rates. Since there is an event coming up the implied volatility is and continues to be high until after the event is over and either drops dramatically or stays where it is.
I am looking to put on my October position tomorrow even though it is only 38 days until expiration. I believe it will be a helpful experience for me in order to learn how the position reacts in a higher gamma environment.
This is how the end position looked like when I removed it.
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