fool. The momentum is major on the upside. You have institutions that are buying facebook now and estimates are rising. You have upgrades, mobile ad revenue going through the roof, etc. There isn't anything to push the stock down outside of a complete collapse in the market.
I'm about to lose all my Facebook shares at $45 with covered calls. I didn't even think it would rise this fast. Want some free money? Sell the Dec $50 puts. Those will be worthless soon.
Covered calls are not usually something you want to do with a stock that's moving. However, because there is a lot of extrinsic value in the options right now you can roll your covered call up so you reduce the cost basis of closing out your short call.