O.K. I think I understand your stratagy. I also understand you wouldn't do this with a POS company. But,,, if a stock started to take a dive, for whatever reason, are you obligated to hold your position in case the stock heads up and the options get called??
If the stock dives, I can always buy back options to close. Then sell my stock. I can also sell my stock and then my calls are no longer covered calls which get's pretty risky. Right now I sold the calls for 1.00, I can buy back at .25, but why?