I am fairly new and only doing calls and puts at the moment. I have a couple questions I am sure someone can answer.
I want to make sure I have this right with no surprises on that I am doing this correct.
First I would buy to open to open a long call Correct?
And when I want to take my profits or cut my losses, I would sell to close Correct?
Now technically I can sell to close at anytime before the expiration date, whether its 3 hours 3 days or 3 weeks Correct?
And once I did that, sell to close I mean, I am done with that position, whatever effect it has on my account balance is what it does, correct? I am done with that position and no longer obligated to it in anyway Correct?
Am I correct in this thinking or am I way off base? I think I am right, but want to make sure.
Thanks for your help