Friday, I had to close the Oct 30th 2070/2095 spread for 14.20.  I did not get to sell another ITM spread to replace it, so will look to on up moves today.

Allowing a spread to get ITM is not ideal, but I have on occasion allowed it to happen with call spreads. When SPX feels toppy, as I feel it is now, it is pretty certain that we will be below current levels at some point in the near future.  Therefore, you can roll an ITM spread each week until you get the pullback.  I did not try this on the move up from 1900 to here…  VIX was plummeting and we were screaming higher.  But once here, near 2100 and not far from all-time highs…  the VIX has stopped dropping dramatically, so I feel comfortable with it.

Again, not ideal, and many will not be comfortable with 10-20 dollar spread in their account. But if you employ patience, it can become easy.

But best bet is just to use more disciplined stocks and get out long before ITM happens, then roll at more comfortable prices.