What should you do with your original GTC “take profit” order after rolling your trade to the next monthly expiry date?
Your original GTC “take profit” order will auto cancel when you close the original spread. After rolling, you’ll probably need to babysit the trade so usually you don’t bother entering a new GTC “take profit” order for the new expiry date. If it continues to struggle, you’ll probably be happy to get out near break even. Watch Sept 30 Q&A @ 40:54 for Rose’s explanation.