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I guess technically I am "supposed" to hold since it is short of 40% at end of day, but closed for $4.50, a gain of 35.8% after commissions.

Yesterday I sold a tiny portion of what I was holding. Then, after more careful examination, I bought it right back, plus a bit more. Today, I actually added to the position, on a dip. It looks very solid to me. So far, it definitely is not a 1 day spike. The continuation, and not being able to pull back, indicates there is more to come.

Wow...I 'm embarrassed to admit this but, I was so busy , with my main positions, that I didn't even see this until you brought it to my attention. I will sell a few, but, I don't see any reason to liquidate the whole thing , as it is pretty much in an uptrend. I also like the behavior following earnings. I felt that if it held $2.00, then that would be a sort of floor. The market told you what it thought, so just follow what the market is telling you. But, after any spike, you have to lock in some gains. So, sell a small portion, and hang on. Also, there is that time factor.. There is SO much time, and now they are almost .30 cents in the money. Which means there is only .10- .15 cents of time value on a 3 month option.

Few points to remember/clarify: Increasing portfolio size to 20k does not mean more trades. We will still stick to 10% allocation, so average trade size will be around 2k instead of 1k. If we stay with 10k and place trades that are larger than 1k, I will still report it as 10% of the portfolio for simplicity. The performance reporting is never perfect anyway - if we have trade that costs $750 for example, it is 1 contract per 10k portfolio, but I still report it as 10% not 7.5%. I believe there are still many members with 10k portfolios. Some have more money to invest but select to start with 10k till they learn the strategies and fell more comfortable to invest more. Others see it mostly as educational resource and the subscription fee as tuition, worth paying regardless of what they make during their first months or years. "The math is easier using a 10,000 size" is a very valid argument. Right now there is a slight majority for 20k portfolio, but at the end of the day, it is not a big deal anyway. If we switch, members with 10k portfolios will not be able to take the larger trades anyway. Same holds if we stay with 10k. My preference right now would be to stay with 10k to make the math easier for everyone, and when we take larger trades, just mention that those trades exceed 10% if your portfolio is only 10k, and are not recommended for smaller portfolios in terms of allocation.

Dan, As a new subscriber, I agree! You've hit the nail on the head. Even with years of experience, I'm not an expert and struggle to follow, unwrap, and digest all the content, here. It's difficult to imagine how overwhelmed a beginner trader might feel. We're blessed and fortunate to have a larger trading account, but we've probably learned to keep it that way by absorbing more than a few blows to the gut and ego. There are some really bright traders here and we can all learn something. Albert Einstein once stated, "To punish me for my contempt for authority, fate made me an authority". I'm no authority but feel, in years of trading, fate has punished me nonetheless and every time I feel like I've got it, a new punishment comes along.

@Dan Dan I learned to trade options on this site. I tried several others before and found this one far superior. Having this 10,000 "hypothetical" portofolio helps in determining how many contracts you need to buy to maintain the optimum trade size for your individual portfolio via a simple calculation. I prefer it to stay only for this purpose.