That's quite clever!No, it's that I get +~$10 per contract, so for every 4x I roll I can also sell a Dec -c300 and reduce the -c200's by 1x, so in this case 20x -c200 -> 16x -c200 & 4x -c300
And I have 6 months still to roll the lot, but need to deal with the July expiry and after playing about with the options calculators I don't see much benefit from waiting any longer, just deal with them now
Of course one could argue to roll the whole lot up $10 - $15 strike, that's another approach. Also you can just leave the -c200's in place and sell puts and keep the cash, each approach has pros-and-cons