Hello, Ronbo
Well, I am pleased.
The 280 Oct put that I bot for 1.25 was covered by buying dec futures at 272.
8 pts less the 1.25 less two commissions = near $2500
I should have done better, but I was on the road, so phoned in an order 'just in case' there was a quick, sudden dip. Well, for hours coffee stayed near the 280 strike, but then could not hold in the face of currency and stock loses. So, having a resting order actually prevented me from making more (close = 270 with 265ish low)
I have found that many times one should buy the initial option, but offset with a future position as this can work better than trying to offset the option (too thin) Also, DONT chase the initial buy--use limit order.