Case: I have 100 call contracts (100 stocks) at strike 290 with expiration June 2010. I paid 10$ for each contract. At the time the stock price was 320 â so I was in the money. After some time I sold 100 call options at strike 330 with expiration Marts 2010 â I got 3$ for each contract. I used my June options as security to cover assignment. The deal is that I always should have security in stock or other call options with lower or strike. Now the stock price has gone up to around 350 and I would like to somehow cash-in or at least get some cash into my account. My June calls are valued at 13$ and if I should buy back the marts calls, I sold, the price would be 6$. I thinking about leaving the calls I sold, as they are now pretty expansive to buy back, and maybe rolling up or up and/or forward my base calls. I would buy a higher time-value by rolling up and forward but I would get some cash in. I think the stock price have almost reached the limit and will stay or fall 5%, so it looks like I'll have to handle assigment in marts - anyway. Later I would like to sell calls again with security in the same June calls. Any ideas to handle this?