Can you "lose" with Covered Calls

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[@KeanuReevesIsMyJesus]

Why not just roll it? I wasn’t a fan of rolling in the past, but at the very least, it buys you more time to decide on what to do next.

[@rubentech999]

I had considered it, but the option got crazy expensive. You could see in the video it would have been well over a grand to close it out. My first mistake was in making covered calls on a position that i really do intend to be long on. My second was not closing it in the money and trying to get more.

[@duanebaughman1184]

So there was a $67 dollar difference in that it cost you to close and what you opened the trade. You said META was $572 and now it is $585 that is a 13 dollar / share difference. So when you opened the call you should have purchased 6 shares of META as your insurance policy that if the price came up to your strike you could have sold the 6 shares and had the money to buy back the call.

[@rubentech999]

Uhmm... i admittedly am not following here. The CC's strike was 585. I bought when the price was at 572. In the video META was at like 594, so $10 over my strike price. So calls were expensive and just buying some Meta would not have made up the difference. I was taking an "opportunity loss" or real loss here no matter what i did. I think... unless i am misunderstanding you which is very possible :D

[@SoccerTV_India]

I would go long on Meta, it’s a 1000$ stock give or take 1yr

[@rubentech999]

Yes, i was long over 400 shares, down 200 now. This was silly of me to do, got a bit greedy with my covered calls cause they were printing money for a while.

[@SoccerTV_India]

@@rubentech999 I’d be pulling my hairs off, I’m poor, can’t have 400 of Meta. I sold them at 200$ back in a year ago, just learned evaluations and I am like what idiot I was.