Covered Long Term Straddle

Novice options trading question:

I have a decent concentration of one particular stock. I have a specific price I am willing to sell at (about 25% higher than it currently is trading). The stock is fairly volatile, trading within a band +/- 15% over the year.

While I am waiting for my price target, does it make sense to sell long dated calls and puts (~1yr) at my future price target (+25% of current price) for a small portion of my holdings (~10%).

Is the only downside, that if the shares drop, I won’t be able to sell those “committed” shares in the call contract and if the price jumps, I am limited to what I would have e sold them at anyway? Anything else I should be worried about.


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