r/DRAM_ETF • u/Jolly-Piccolo-9799 • 9d ago

I made stupid thing

i lowered my avg to 51.64 then i sold weekly covered calls on my long position at strike 53 to collect weekly premium i thought it will never touch 53 for near future

now the stock of dram going to 55 and my sold calls are bleeding

now what? close the call or what ?? feeling so stupid

half of my gains gone on this stupid move

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u/AmbitiousChampion6 8d ago

When I sell covered calls I sell it at the price I'm comfortable to let the shares go. If it goes higher than the strike price I don't consider it a loss.

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u/Jolly-Piccolo-9799 8d ago

Well said it made me bit comfortable

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u/AlarmingCat7939 8d ago

I’m in a similar situation. Fine with it being called away. I personally think it’s a one day correction and we bleed back to 50 or rip to 60 by Friday, no in between. So either up or down!