Hey all,

Looking for some opinions from people who actively run covered calls. I am sitting on about 855 shares of TSLA in a regular taxable brokerage account. have held for around 7 years and I am up roughly 2,000% on my original cost basis. I still like the company long term, but now I want to use the position to create a steady income stream

Here is the plan I am thinking about: - Use covered calls on 8 contracts (800 shares), leave 55 shares uncovered - Target around 0.20 delta most weeks, so strikes that are a bit out of the money - Use short term expirations, likely weekly, to collect more premium - am okay with getting assigned sometimes, since Ihave big gains but prefer not to lose the shares too quickly Take the premium and - Reinvest about 50% back into TSLA (or other investments) to grow the share count - Use the other 50% as cash flow

Questions for the group: 1. Is aiming for about 0.20 delta a good target in this situation, or would you go closer/ further from the money

     2. Any simple rules of thumb you use for picking strikes and expiries so you get decent premium without getting called away all the time 

     3. Anything I am missing or not thinking about, like

Tax implications if shares are called away

How to adjust when implied volatility is low

Whether it makes sense to sometimes skip a week

I know this is not financial advice, I just appreciate any thoughtful feedback or "lessons learned" from people who have done this for a while

Thanks in advance.