Buy back and sell again

I get asked this all the time. All of you that have asked this know my answer.

Could I just buy and sell the option as the stock goes up and down?

Yes you can and some do. I myself being the ultra conservative trader that I am, do not. This requires timing and you know about my timing. I have tried to buy back before only to have the market keep going and thereby losing out on more value.

So to answer this question since many of the stocks we have been following are in the inevitable correction phase, you may want to virtual trade buying back the short positions then selling again on the next rally. See if you have the gift to do this.