Too late. I did it. People say not to roll a deep red covered call out and up that far. Well, LUNR had been on a crazy run, and I had already rolled these 3 to June 18 to not give back much premium.

Ok. the three CC started out at $25 and 4-17. Rolled to $35 and June 18, gave back a mere $14 of $255 premium.

Since then, the stock has run way up.. Although it is actually below the Jun 18 strike by $1, the CC were deep red.

So, I said, fck it, as I recently did with one IREN CC, and rolled out to Dec 18 and $55. Collected a fat $432 extra to make a net premium of $689.

Do I understand that, if I needed to close the trade at this time, the cost would be about $1800? Actually less than what I received, as LUNR is again dropping. Yes. But, a few points:

A. My average cost of my shares sits at around $8.50.... not allowing for profits in past closed trades, AND

B. The fact that I hold 20 Jan LEAPs, which were showing $26k of profit at yesterday's close, a number that is now a mere $22500...lol, woe is me...not.

C. I have 4040 shares, so am not worried if I end up losing 300.... LUNR would have to be above $62 on Dec 16 for me to be negative.....

D. I had 3 $35 CC that expire today. They weren't very red, so I managed to get them bought back, by placing a low bid and it filled. So, I actually made about $20 on those three calls.

E. I do have 3 more, which are $40 and July 16, also deep red... I'll worry about them later. Might let them get assigned. No worries.

F. Might LUNR totally fail and I'm stuck with 300 shares that I can't get out of. Anything's possible, but the company is doing very well, and that possibility seems quite remote

My CC and CSP strategy is now to mostly do weeklies, for less risk... and I only do them when the time seems right. This group happens to be all CSP's..

I'm letting some LUNR CSP's expire today. $33 and 27, 3 total, $935 will stay in me grubby pockets.

I could have held 2 ASTS $66 CSP's up until their 5-15 expiry. but I placed a limit buy at the low and it filled! Gave back a mere $53 of $570.. not bad.

Has RKLB been on a steroidal run of late? Yeppers. Might it keep pulling back next week? Of course it could. But, it's really doing quite well today, considering how red the overall mkt is. Anyhow, I sold 2 $116 CSP's for next Friday.. Got a nice $520... Had I been thinking of the idea this am, I coulda gotten $200 more, max.... sigh....

Basic stuff, but how am I doing, fellas?!!

I'm letting some LUNR CSP's expire today. $33 and 27, 3 total, $935 will stay in me grubby pockets.

I could have held 2 ASTS $66 CSP's up until their 5-15 expiry. but I placed a limit buy at the low and it filled! Gave back a mere $53 of $570.. not bad.

Has RKLB been on a steroidal run of late? Yeppers. Might it keep pulling back next week? Of course it could. But, its really doing quite well today, considering how red the overall mkt is. Anyhow, I sold 2 %116 CSP's for next Friday.. Got a nice $520... Had I been thinking of the idea this am, I coulda gotten $200 more, max.... sigh....

Basic stuff, but how am I doing, fellas?!!

How to get rid of the red and delay what would be a plenty happy ending.

I do a fair bit of CC and CSP options trading, including in IREN. I only hold 450 shares at an average of about $25. I want more, don't want to lose any to an executed CC.

So, the current situation: A week ago, I rolled a $51 CC out to this Friday and $55. Collected a bit of premium. Well, you can imagine how red it is right now. Don't want to lose 100 shares, so I'm looking at another roll up and out. Not finding anything to my liking at durations of 2-3 months, I said, fck it, why not going as far out and up as possible. At $110 strike and Jan 2028 expiry, I'd collect another $1000!!

So, even if it is well above $130 by then, I'd have gobs of profit, right?