Suppose I am buying a call option of sbi at 228 with an expiry date of 30th December

General
1

Suppose it had hit my strike price & now I am in a profit,can I exit my position before expiry date & make some profit?

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2

Yes you can. But make sure you square off your position if it is in the money option befor expiry or else stt could eat your profits.

check this link for stt trap on in the money options:-http://zerodha.com/z-connect/queries/stock-and-fo-queries/stt-options-nse-bse-mcx-sx

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3

Please note that expiry is on 31st december. To answer your question, yes you can anytime before expiry.

4

Definitely you CAN sell/ square off your position anytime!

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5

Can I square it off before expiry day?Suppose expiry day is on friday,can I square it off on wednesday or thursday?

6

Expiry Day cant be on Friday. It will be on Last Thursday of every month. If its a holiday then it will be (Wednesday) a day advance to it.