Sell to Close

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Sell to Close

Informal; to sell an option contract in order to close the position. That is, when one sells to close, one is liquidating the position and ending whatever option strategy one was using. This may occur because the investor has already extracted whatever profit is going to result, or because the position was not profitable in the first place.
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The stock up 5c to $31.65 and the time spread probably sells to close expiring Feb 30 calls (at $1.80 today) opened 1/9 for $1.41, which was rolling out of Jan 30 calls with shares $29.75.
While the two spreads traded separately, the activity perhaps rolls (sells to close) a bullish position in the end of year 12/31 term to a new position in the January monthlys.