With the Nasdaq falling today, the Short Call Spread that we put on in FB less than one week ago has now already surpassed our 50% of max profit target. This result highlights the simple fact that of the three sources to option profitability, delta will always overshadow both theta and vega in the early stages of a new position. As a result, if you have a directional position on and you are correct with that bias, you can expect to be able to manage that winner quickly.
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