Well, my covered call(s) expired yesterday.
I opened it 108 days out, when the stock had fallen 28% off its ATH, and then recovered up to only be about 9% below ATH. I got almost a 10% premium and set a strike price over 41% above the price when I sold the call(s)... Thinking "oh, wouldn't it be nice if I got out with that profit, but it probably won't get there!"
Well, it ripped through that number in 3 weeks and then kept ripping. It ultimately topped at 2.35x my strike price and 3.32x the price it was on Apr 1 when I wrote the call.
At close yesterday, it was still 35% over my strike and 27% over my break-even price.
And now it's done. Nothing left to do but temporarily hold what I'll owe in taxes and diversify the rest.
It's always tough to argue counterfactuals and I'm not going to claim that I would have actually sold it all at the top... But had I not written those calls, I'm fairly certain I would have sold most of them now above my break-even price. Stock getting called away with the share price significantly above break-even price is a lot better of a problem than writing the call and then watching the stock crater, of course. But I left a lot of potential money on the table.
An expensive lesson learned.
