Rolling the calls? Do you mean buy back the calls if the stock rallies sharply and higher than the strike price (so you don't lose the shares) and then sell calls again that are out of the money? There is just too much risk of losing the shares. This stock can go up 10 points in one day without warning.
S/he is down $30000 re: NFLX.
How do you propose that they make up $30000 selling covered calls without the shares being taken on any given expiration date.. It's a tricky business. Even if they sold cc for January, 2017, they would only collect about $8000. Or, are you suggesting they sell weeklies and/or monthlies at lower strike prices than where they bought the shares? Then they risk selling the shares way below their cost. What would be your strategy? Anyone else wish to share?