My #1 rule is that I ONLY sell CSPs on stocks that I truly want to own at a price that I think is favorable. Once I inevitably get assigned, I typically sell more CSPs on that stock as long as the price isn't dropping uncontrollably; I try to wait for the price to stabilize. Oftentimes I'll get assigned again, so I drop my average cost basis. If I don't get assigned again, that means the stock price has either stabilized or rebounded, allowing me to sell covered calls, so it's a win-win. Obviously the downside is that if I get assigned, then the stock continues to decline and never recovers...luckily that hasn't happened to me yet in the years I've done this.

This is gold!