I own LUNR $5 21 Mar 2025 calls that are massively up right now. I’m inexperienced and am unsure if it is better to roll up into OTM calls, or hold and sell-to-close before IV and theta decay devalue this too much.

    I’m aware that holding is the safer play, while rolling up is riskier right now, especially with IV being extremely high. I’m thinking about taking profit while IV is high, but am also concerned about IV crush after rolling up.

    If it helps, I am very long on LUNR and plan to hold shares indefinitely, and a portion of the profit from this play is going into purchasing additional shares.

    Edit: and since I do plan on purchasing additional shares, it has crossed my mind that I could sell-to-close these calls and use the funds to sell ITM or ATM CSPs. I am a little apprehensive on this because I have no experience with CSPs but am familiar with the basics from looking into the wheel strategy in the past.

    Sell-to-close deep ITM calls or hold?
    byu/Apopkalypse inoptions



    Posted by Apopkalypse

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