Rolling Options: UNH & RDDT Short Calls (Sep 23, 2025)

 oday I executed a series of short call rolls on UnitedHealth Group (UNH) and Reddit Inc. (RDDT). These adjustments extended expirations, lifted strikes, and most importantly — generated fresh premium income while giving my shares more room to run.

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🏥 UNH Roll (Defensive Play)

• Closed: UNH $370C (Feb 20, 2026) @ $28.30

• Opened: UNH $380C (Apr 17, 2026) @ $29.43

• Net Credit: +$113

This roll added two months of time, raised the strike from $370 → $380, and collected extra premium. The higher strike means I keep an extra $1,000 upside if shares are called away later.

📈 Takeaway: Defensive and income-focused. A balance of cash now plus higher upside later.

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📢 RDDT Rolls (Aggressive Tech Growth Play)

Roll 1

• Closed: RDDT $250C (Sep 18, 2026) @ $70.93

• Opened: RDDT $260C (Jan 15, 2027) @ $74.93

• Credit: +$400

Roll 2

• Closed: RDDT $210C (Sep 18, 2026) @ $88.40

• Opened: RDDT $220C (Jan 15, 2027) @ $91.10

• Credit: +$270

Roll 3

• Closed: RDDT $200C (Sep 18, 2026) @ $93.95

• Opened: RDDT $210C (Jan 15, 2027) @ $95.95

• Credit: +$200

📊 Total RDDT Credits: $870

Each roll extended expiration by ~4 months, lifted the strike +$10, and generated immediate cash flow. That means $3,000 in added potential upside if RDDT rallies and contracts get assigned at higher strikes.

📈 Takeaway: Aggressive time extension, strong credit capture, and more strike flexibility.

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💰 Net Effect of Today’s Rolls

1. Immediate Cash Flow

• UNH Credit: $113

• RDDT Credits: $870

• Total Premium Collected Today = $983

2. Additional Assignment Upside

• UNH (strike +$10): +$1,000 potential

• RDDT (3x strike +$10): +$3,000 potential

• Total Added Upside = $4,000

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⚖️ Final Tally

• Locked-in profit today: $983 (guaranteed premium)

• Potential extra profit later: $4,000 (if shares are called away at new strikes)

• Overall Improvement: $4,983

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🔎 Final Thoughts

These rolls highlight the power of active options management:

• You lock in cash immediately with net credits.

• You give your positions more time to play out.

• You raise strikes, allowing for higher exit profits if assignment comes.

For UNH, this was a defensive adjustment. For RDDT, it was an aggressive premium grab. Together, they boosted income and unlocked nearly $5,000 in combined benefit.

Rolling isn’t just about avoiding assignment — it’s about stacking credits while keeping upside alive.