Roll down

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Roll down

To move to an option position with a lower exercise price.

Roll Down

To liquidate one option in order to buy a similar one with a better strike price. Most often, rolling down refers to an investor who wishes to maintain a position when he/she is bearish on the price of the underlying. See also: Roll Up.
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With your putter, you whack the golf ball and watch as it rolls down the fairway with an acceleration of 3.