You speak way too much in absolutes, and don't seem to appreciate any thinking other than yours.
As of right now, I left $1 on the table so far this month. Rolled, covered, rolled, and now am 100% long, uncovered. In the short term, looks dumb, since this is one of those straight shot up months.
On the other hand, I've had a good hedge the whole way.
Stopped clock, James. How's your buy and hold working out over the last two years (plus), you've been touting TEX (which I agree with, by the way)? Stock's DOWN over that time period.
So give it a break. Different strokes.
Long-Tex, didn't see your note. Yeah, James doesn't see to understand the concept of rolling months and stock prices. Although, personally, having handled the $24 and $26 resistance levels quite well, and looking back to market seasonality...... this could be one of those straight shots for 50% (or whatever) setting up here.
No biggie, just roll it out to January at $1 higher strike price and collect another premium... Even TEX cannot maintain this rapid PPS rise! I sold some $27 Dec calls and depending on closing price Friday I will let them expire worthless, or roll them out to $28 Jan calls...