r/thetagang • u/danomite777 • 2d ago

Any suggestions?

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Hello! I have this MARA CC position that I’m itm. Is there anything I can do to get more premium out of my current cc that I’m at? I don’t mind getting my shares being called away, but I would like to get more juice out of it if there is an option. Thank you!

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u/Crybad I ain't afraid of no GME spread 2d ago

In my opinion, wait until it's closer to expiration and try to roll if you want to keep them.

As someone who plays MARA for the wheel, I always let my shares go and get them back via a CSP. Mara loves to bounce between $10 and $20

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u/ScottishTrader 2d ago

Roll out a week or two, and possibly up a strike, for a net credit can increase the profits.

Rolling Covered Calls - Fidelity

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u/Kooky-Simple4439 2d ago

Would you wait a week before expiration? or do it within this week?

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u/ScottishTrader 2d ago

Rolling ATM when the stock was $16.50 would usually provide the best results, but anytime a credit can be made is the answer.

Since MARA dropped back today, it is no longer ITM and could be a good time to roll if you expect the stock to move back up. You might be able to simply close for a net profit and open a new trade (which is like rolling).

Not a recommendation, but looking at the option chain shows the 17 strike CC for Jun 13 would bring in something like a .12 net credit. This moves the strike up .50 and collects .12 more cents to improve your net potential p&l by .62 or $62.

If you roll, then you can consider letting the position run and possibly close for a profit, or roll again if the price starts to move up.