I am selling calls into strength against my short put position in MGM. The stock rallied today and really took off when the US Administration spoke about providing support to the industry in light of COVID-19. I am not a supporter of corporate bailouts as they tend to reward bad behavior and distort the market, but it is what it is. I sold the calls too early. You can collect more now or sell a higher strike for similar collection.
Sold Apr 20 Call for 1.50 credit. So the new position is
MGM Apr -17 Put/-20 Call for 3.30 credit.