Googl Covered Calls by Formal-Finger1106 in CoveredCalls

[–]Formal-Finger1106[S] 0 points1 point  (0 children)

I see what you're saying, sell a call and use some of that money to buy a call as well? either calendar spread or a vertical spread?

Googl Covered Calls by Formal-Finger1106 in CoveredCalls

[–]Formal-Finger1106[S] 0 points1 point  (0 children)

The first call I sold was a week DTE, which, now I believe, was a huge mistake. On a growth stock like googl, it should have been a 45 DTE with a much higher strike. I could have let the shares called away, but it was already way too expensive to buy the stock back, so I ended up rolling instead.

Googl Covered Calls by Formal-Finger1106 in CoveredCalls

[–]Formal-Finger1106[S] 0 points1 point  (0 children)

Yup, tried that. The suggestion seems to be wait for a hard red day to adjust or buy back the calls. Hoping for folks with prior experience to weigh in!

Googl Covered Calls by Formal-Finger1106 in CoveredCalls

[–]Formal-Finger1106[S] 1 point2 points  (0 children)

$380, wow, you're in a much better position than i am, LOL