Here is one of proprietary options traders' favorite trick. Planning for a potential free trade scenario when entering into any trades, so that upon successful exit, there will be a planned position left opened without risking original or addtional capital to make further gains.

Here is how I did it in a bearish trade: 

Bought put for FTO (Frontier Oil Corporation) at strike $45 (FTOVI) on 9/25/07 at $2.50 when price of stock is at $44.
Sold it on 9/27/2007 for $3.60.
Keep the initial money at risk (original $2.50) and use the net gain of $1.10 (minus broker's comission) to purchase put for FTO at a lower strike of $40 (FTOVH) at $0.95 when the price of stock is at $42.

It is not exactly a free trade per se. But it does help a trader psychologically by acknowledging the fact that initial money at risk is off the table and it is a part of the winnings that are being put to good use - making further gains for the portfolio.

Pretty neat hey?