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thisisthetaa OP t1_j6lb9ly wrote

Reply to comment by Severe_Set5371 in 2nd time making a covered call: 1600 shares of Carvana at $8.43. 16 $9 calls sold at 0.71 a call by thisisthetaa

what if it falls to like $6 and I have a huge unrealized loss

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LionRoars87 t1_j6lm9wc wrote

Welcome to the risk of covered calls. This is options man.

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thebossphoenix t1_j6mkppy wrote

Just call questrade and ask them to reverse the trade, mention you have regrets

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rodsterStewart t1_j6mqnva wrote

If it falls to 6, then you keep your 1600 shares and you keep selling covered calls until you get assigned.

You seem to be confused about what your play is and you're the one who made the fucking play. Keep up the good work.

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icepremez t1_j6le032 wrote

What? U collect ur premium then. Ur holding the stock either way till exp. Is that not the play????

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JitsISM t1_j6le2dp wrote

You made money on the premium of the options you sold. The point of selling covered calls is to make money when a stock isn’t doing well and you want to hold onto it. If they expire in the money you sell your shares for the strike price. You have the safest form of selling an option. Relax.

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