Rolling MY Covered Calls on TSLA - Finally Expired Worthless

As we all know, opportunity cost on selling covered calls is losing the potential upside.

I am sharing my experience on selling TSLA covered call. On 11/1/24, I started selling the covered call at $270 strike. Then my call kept hitting ITM. After almost 8 months & $1,098 premium collected. it expired worthless on 7/3/25 with $330 strike after 6 rolls.

Basically I used these rules on rolling any options (calls or puts):

1). Only roll BOTH LEGS TOGETHER.

2). Only roll with a NET CREDIT or/and INCREASE STRIKE. Why: you will receive additional income/gain if you increase your strike.

3). If you have a call, roll on a RED DAY when the stock price is DOWN to optimize your roll. Paid to close your call option if it a small prize (like $0.2). Bottom line, don’t give back the premium you have made.

Note1: If you have a put, roll on a GREEN DAY when the stock price is UP to optimize your roll. Paid to close if is a small prize. Don’t give back the premium you collected.

Note2: This is the opposite of selling a call (on BIG GREEN DAY) & selling a put (on BIG RED DAY)

I like to keep this 100 share of TSLA, so I do what I can to keep them. Maybe I could be better off to let it assigned & restart again.

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