{"slug":"how-to-roll-an-option-position","qid":"strike_ladder","label":"Moving the strike up costs premium: AAPL calls 30 to 45 days out","post_title":"How to Roll an Option Position: Up and Out","post_url":"/blog/how-to-roll-an-option-position#q-strike_ladder","columns":["strike_vs_spot","call_premium_pct_of_spot","sample_count"],"rows":[{"strike_vs_spot":"5%+ below spot","call_premium_pct_of_spot":18.66,"sample_count":1987},{"strike_vs_spot":"2-5% below spot","call_premium_pct_of_spot":5.79,"sample_count":466},{"strike_vs_spot":"at the money","call_premium_pct_of_spot":3.65,"sample_count":645},{"strike_vs_spot":"2-5% above spot","call_premium_pct_of_spot":2,"sample_count":503},{"strike_vs_spot":"5-10% above spot","call_premium_pct_of_spot":0.92,"sample_count":795},{"strike_vs_spot":"10%+ above spot","call_premium_pct_of_spot":0.14,"sample_count":2615}],"shape":"ranking","sql":"SELECT\n    strike_vs_spot,\n    round(avg(premium_pct), 2) AS call_premium_pct_of_spot,\n    count()                    AS sample_count\nFROM\n(\n    SELECT\n        multiIf(strike_ratio < 0.95, '5%+ below spot',\n                strike_ratio < 0.98, '2-5% below spot',\n                strike_ratio < 1.02, 'at the money',\n                strike_ratio < 1.05, '2-5% above spot',\n                strike_ratio < 1.10, '5-10% above spot',\n                                     '10%+ above spot')            AS strike_vs_spot,\n        strike_ratio,\n        premium_pct\n    FROM\n    (\n        SELECT\n            toFloat64(strike_price)  / toFloat64(underlying_close)       AS strike_ratio,\n            toFloat64(option_close)  / toFloat64(underlying_close) * 100 AS premium_pct\n        FROM global_markets.options_greeks\n        WHERE underlying_symbol = 'AAPL'\n          AND lower(option_type) IN ('call', 'c')\n          AND iv_converged = 1\n          AND volume > 0\n          AND date >= '2026-02-01'\n          AND date <  '2026-08-01'\n          AND days_to_expiry BETWEEN 30 AND 45\n          AND underlying_close > 0\n    )\n)\nGROUP BY strike_vs_spot\nORDER BY min(strike_ratio)","computed_at":"2026-08-07T15:40:37.984359+00:00","elapsed":0.002887269}