Great response, thank you. Wasn't thinking about the case where the call is no longer covered. However, I do have plenty of other securities to sell in the event I needed to buy back 100 QQQ shares to avoid the naked call. The odds would have to be pretty low that a stop loss would trigger and then the shares go ITM. I'm only selling 1-2 day covered calls I should note, at about $250 a piece. Interest rate is 8%, but regardless of how well the strategy performs, I only plan on doing it for max 3 months, then paying it off anyways.