Subject: Re: Waiting for Godown
those puts have been quite profitable, so I just closed them.

I always grapple with this aspect of these types of trades. Why bother closing them? Instead just wait for them to expire worthless and they close themselves.

Jim can answer this, since the bolded statement is his.

The reason I would close them is that it very cheap to do so after a sudden increase in the stock price, and if the stock falls back I can write the same put again.