I picked up the following
book. It's difficult to find the very best book out there on it but it's doing its job at the moment.
Well I did a video on selling vertical spreads about 2 weeks. Ran into a hiccup though with that strategy since it requires a lot of capital to be held unless you run margin; which I would never do. So I'm revising that strategy a bit which sucks since that one had a 90% success rate week after week.
They beat estimates but the pop isn't there yet. Only up 1.25%. I woudn't rule it out just yet though since we might see good movement once the markets open.
Keep in mind that you will not lose your full $1,000 if you close your options beforehand. You confused exercising options and closing them. If you wanted to excerise them then yes you would need to see the stock hit the strike price but that's not what we are after. You can sell your options back at any point so your loss with be a fraction of the $1,000.