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. And, worst comes to worst, if there's a sudden downdraft, I get to buy shares at a price that is attractive to me. The only real reason I can think of to "close them" early is if I want the capital gain now instead of at expiry (for example with Jan 2025 puts that will almost surely expire worthless). The other real reason may be if you need the margin to be available for another trade, but if they are getting close to worthless, they probably aren't consuming much margin anymore anyway (except in tax deferred/exempt accounts where they consume the full exercise price in margin).

Berkshire Hathaway FAQ

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