Sold credit put spread on Visa - 3% drop today - Get out or stay til 18th?

sss3d

Junior member
31 1
There was a big 3% (twice the standard deviation) drop today
since senate announced about capping the income of credit card company transaction fees.

I just sold puts for Visa, at $72.50 when the price was around $78. Now VISA is at $77.23.

The puts expire on the 18th of June.

Do you think I should get out now at a loss of $589 (on invested $5000) (since things could get worse) or since already,
things may have calmed down, and by the 18th, everything will be okay?

If I wait til June 18th, I will profit $250 if it doesn't fall below $72.50. but if it does, I could get margin called and lose up to $5,000.

Or do you think there will be a dramatic loss over time?
 
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