Hi everyone, hopefully someone will be able to help me with this question.
I have 100 shares of an index stock which I got assigned through a CSP. I've been selling covered calls while waiting for it to go up. However, it went up faster than I thought it would. To make my example simple. Say I was assigned at $60, it went all the way down to $35, so I was selling covered calls at $40, then $45 as it was going up. I recently sold a CC at $50 for $2.00 premium and it's currently almost at $55.
So, if I were assigned today I would actually net a loss for selling my current shares at $50 (have collected around $600 worth of premium). Rolling is not really an option as the premium would be almost the same and I already rolled once so the additional premium is not worth it, plus I think the price will probably just trend upwards from here. What would be a strategy to minimize the losses of getting my shares called (if there is any).
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