October 9, 2026

Today I made two trades, rolling existing options positions forward one week. Both generated additional premium, but each involved a slightly different decision.

Bought to close: 1 October 9 $130 Put
Sold to open: 1 October 16 $129 Put
Net roll credit: $1.61 per share
Total credit: $161

My Citigroup $130 put was scheduled to expire today. Rather than let it reach expiration, I decided to roll it forward one week while lowering my strike by $1.

This accomplished two things: I collected another $161 in premium and reduced my potential stock purchase price from $130 to $129.

If assigned, I'll purchase 100 shares at $129, requiring $12,900 in capital before accounting for premiums received.

I'm comfortable owning Citigroup at that price, but I welcome opportunities to improve the economics while continuing to collect income.

Bought to close: 1 October 9 $152.50 Call
Sold to open: 1 October 16 $152.50 Call
Net roll credit: $0.90 per share
Total credit: $90

My SPCX $152.50 covered call was also scheduled to expire today.

I decided to extend it another week while maintaining the same strike.

What made this trade interesting was the execution.

Earlier in the day, I had seen the roll available at a higher premium than the market was offering when I placed my order.

Rather than accept the lower price, I entered a limit order at the level I wanted and waited.

The market eventually returned to my price, and the order filled.

Patience paid off with a better premium.

I continue to own 100 SPCX shares purchased at $148.79. If they're eventually called away at $152.50, I'll realize a $371 stock gain, in addition to the option premiums collected.

Credits shown are based on my actual fills, before any separately charged transaction fees.

These were two relatively straightforward position-management decisions.

With Citigroup, I improved my potential entry price while collecting additional income.

With SPCX, I was willing to wait for a better execution price rather than immediately accept what the market was offering.

Of course, waiting doesn't always work. Sometimes the market moves away from your limit order, and the opportunity disappears.

But I wasn't obligated to make either trade at an unfavorable price.

I don't need every order to fill. I need the trades that do fill to make sense to me.

Both positions remain subject to stock-price risk, and neither outcome is guaranteed.

These are my actual trades and actual fills. I was comfortable making these trades around the prices shown above.

If the stock or option prices have moved materially by the time you receive this alert, I would not chase them. The economics may be different from the trades I made.

Options Income Journal documents my personal trading activity for informational purposes. These are records of actual trades, not trade instructions, personalized recommendations, or trading signals.