Watching the Shorts brutalize a dozen of my holdings over the past year [causing me to 'panic' but twice], I wonder what target the Shorts have in mind ... 50? 45? [gasp] 40?
For the past six weeks, I've been acquiring with close-in, "deep-in-the-money" Buy/Writes but have substantial 'paper losses' to show for it. It seems I lose big when I re-write expiring calls at Strikes lower than what I wrote originally.
So what's a guy to do? My average cost is now down from $80 to $65.