If your trading a short term vertical spread on a stock, and the stock hits the target price, should you sell?

Tedlrob answered one year ago …

Once a vertical spread hits the price of the sold option, it is impossible to make any further profit. Closing out the trade is the logical way to go. If you think that the directional move is strong enough and is going to continue, put on a new vertical spread using higher strikes. The technical term is rolling up (to a higher price). The final result is closing the first spread and entering a new one regardless of your terminology If you are really confident, you could use the profit from the first spread as your cost reducer and simply buy a plain long call. (On a long spread, the second option reduces your opening cost. On a short or credit spread, the second option, costs money, but the buy leg is protection from the dangers of having a sold "naked option.)