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In all spread strategies, you only obtain the full benefits of the short legs by holding all the way to expiration. However, if the remaining extrinsic value on the short legs have decayed to almost insignificant value ($0.05), you can choose to close it out early before expiration taking into consideration the additional commissions you will be paying versus allowing to expire out of the money during expiration.

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Q: Should you have to wait till expiration in ratio call spread strategy?
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