Yes. And if the shares get called away you can always buy back in. Just like my MDVN shares that got called away on Friday for $130 (plus the $1.50 premium of course).
My MDVN shares got called away on Friday at $130 (plus the $1.50 premium) so I am looking to buy them back somewhere around here. Still am long a handful of June $110 calls which I am definitely looking to add to if there is more weakness.
And the $103 calls get nuked again. Looks like I'll book another .74 premium again this week. Selling weekly covered calls has been a great income generator.
MDVN is hanging tough too. Meanwhile the Mar 27 $103 covered calls I sold to open on Friday for .74 have been cut in half and will likely expire worthless to the buyer. Selling weekly covered calls against GILD is like bagging a 2-3% dividend per month.
Haven't looked at this stock since I bought more shares at $108. Nice move since then! Bot a few June $110 calls today to add to my position. Any decent pullback and I will buy more shares and calls. Onward!
You couldn't recognize 'smart' if your life depended on it. You are making a complete asshat of yourself.