Last 30 days is when the options will lose fast there time value. And I still believe the 18 puts will expire worthless that is why I mentioned to turn the posistion into a bear put spread and just let them all expire worthless.

You will not gain any value from them but the lower strike options will bring some money into your account thus off setting your loss a little bit more and thats a good thing.

The exceeption is how much will you collect from the short sell verses how much you can now get back from the long puts ? If the bear sprend does not benfit the over all account at expiration, why not bail out now while there is some time prem. left.

USCoralSea