Remember that APA 125/135 call spread that I mentioned earlier as having sold for a 100% gain? Well, turns out that same spread expired worth $9. I bought it for $1, sold it for $2. Had I held on, I could have sold it for $9 for a 800% gain! That’s one thing I liked about the trade when I put it on in December: it had a potential 9:1 profit ratio and it fulfilled it’s full potential last week as APA closed over $140.

Now it’s always easy to look back and kick yourself for not holding on longer, but a 100% gain is a pretty juicy gain and one you’re going to want to keep. So, what I’ve heard that other traders do is if they have a position that has doubled in value and they think it may run even higher, they will sell half so at worse they break even if the rest of the position becomes worthless. Meanwhile they’re still in the game with the other half. That would have been nice if I had done that here.