Quick Please help me on my first options trade

Quote from RichardRimes:

If you have a good reason to buy back sure...if you don't have a good reason to buy back...no. I can't think of a good reason to buy them back. It cost to buy them back plus comission. The big thing with calendars is patience. I look at it every day because its there...but have no plans to do any trading on it until mid/early sept.

edit: OCT will come out after Aug exp..THATs when you'll look to roll
More...

[More editing: I quoted the wrong post. We had put on a XLE Sep/Dec 55 put calendar.]

Have you done anything with these?

I'm thinking of rolling Sep to Oct for .85 or .90. Theta on the Sep 55s is -.03 and the Oct is -.02. Should that matter much? I.e. the Sep is losing faster than the Oct. OTOH the stock price recently dropped to near the strike.

Edit: The whole thing can be closed for 1.80 for a .55 profit.

Decisions decisions.
 
I did update on XLE in the calendar thread as did Ben, you might check that out. I was close to rolling last week but now that its going down I'm holding on for another week.
 
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