--- In OptionClub@yahoogro
>
> credit spreads that expire out of the money give me the money in the spread at expiration, what happens with a debit spread?
>
You keep the money you got when you sold the short, and you are still the proud owver of the long ... assumimg it hasn't expired yet.
BTW, one thing I learned the hard way writing diagonals is this: I was called - fine with me - so the owner of my short took stock away from me at, say, $40. I ended up with a short stock position in my IRA. My long had a strike of $30, so I was covered. But the temporary short stock position in my account resulted in a margin call on my Blackberry in TJ Max on a Sunday. Not a pleasant experience!
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