Sometimes we can consider closing a trade early when we have a higher APR than the original goal. Suppose we expect to close Strangles for 50% of the credit received in 30 days, on average. Our APR for Strangles would be

$$ \frac{50\%}{30 \text{ days}} = \frac{1.66667\%}{\text{day}} $$

Therefore, if we’re up 25% on a particular strangle in only 10 days, we might want to consider closing early since our APR would be

$$ \frac{25\%}{10 \text{ days}} = \frac{2.5\%}{\text{day}} $$