The Trade at a Glance
- Account Size: $100K
- Underlying Stock: CleanSpark Inc. ($CLSK)
- Strategy: Roll 3 Cash‑Secured Puts
- Old Position: Apr 17 $11 Put (×3)
- New Position: May 16 $11 Put (×3)
- Additional Credit Collected: $27
- Total Premium To‑Date: $387 (prior $360 + $27)
- Margin Requirement: $3,300 (cash to secure 300 shares)
Key Metrics
- New Break‑Even Price: $11 – $1.29 = $9.71
- Obligation: Buy 300 shares of CLSK at $11 if assigned
Why We Rolled
- Incremental Income – The extra $27 keeps the premium machine humming, pushing total credit close to four hundred dollars.
- Give It Time – Extending to May 16 allows more runway for CLSK volatility to decay in our favor.
- Maintain Strike – Holding the $11 strike retains upside while compounding credit.
Risk Management
- Watch CLSK price/IV; consider rolling again or closing if we capture 70‑80 % of max profit early.
- Comfortable owning 300 shares at an effective basis of $9.71—well below current market.
Final Thoughts
Slow, steady credit adds up. This roll demonstrates how we layer income and squeeze theta without increasing risk.
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