There is a specific kind of option that can be rolled over.
It's called a LEAP option; LEAP means "long-term equity anticipation." (No, I don't know where the P comes from.) These are options with very long expiration dates...years even. And there are both Call LEAP and Put LEAP options. To rollover a LEAP option, you buy a new one, hold it for half its lifespan, then sell it and buy another one. The official name of this practice is Option Roll Forward.
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