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REDDIT
Letting BWBs or Calendars go to expiration? Anyone let them until last day?
I trade a strategies based on SPX Broken Wing Butterflies (80 to100 DTE), usually known as SPX Best and SPY calendar spreads (80 and 140 DTE) known as SPY Ride Trade. According to strategy rules, it says to close before expiration due to increased Gamma in the final week. It make it dangerous to trade in the last week. Does anyone here let these type of trades until expiration? Or close them 1-2 days before expiration? Curious what actually happened vs. what strategy rules indicate.