Today is OPEX, and there was news that the straight of hormuz was open made by iran. I decided to sell Calls today. 7475/7500 Call Credit Spreads with Expiration on May 22. 2026. These are worth $3.10 Each at the time. I sold 2 contracts and will add more if price continues higher.
I closed one position for 50% on April 29. Fortunately I did that because the next day we at back at breakeven I might make another trade at a higher strike and longer DTE and close this one depending on earnings for Thursday.
I ended up closing the last contract at breakeven. Probably should have closed everything at 50%.