When Should I Roll My Options Trades?

Learn how 'rolling' an existing options position to a new expiration or strike can help traders extend winning strategies or manage losing ones.
November 25, 2025

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This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice.  The securities, investment products and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.

Investing involves risk, including loss of principal.

Equity and index options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled "Characteristics and Risks of Standardized Options" before considering any option transaction. Supporting documentation for any claims or statistical information is available upon request.

Spread trading must be done in a margin account.

Multiple leg options strategies will involve multiple transaction costs.

American style short options can be assigned at any time up to expiration regardless of the in-the-money amount.

Schwab does not recommend the use of technical analysis as a sole means of investment research.

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