Learn covered calls, one lesson at a time.

Twenty short lessons that take you from "what is a covered call" to "I know exactly what I'm doing." Read in order, or jump to any topic you want.

Brand new to options? Start with Lesson 1.
Know what a covered call is? Jump to Lesson 2.
Already placing covered calls? Start with Part 4.

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All Rolling & Position Management
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Rolling & Position Management

What Rolling Means and When It Makes Sense

Somewhere around your third or fourth covered call cycle, you'll encounter the word "roll." The app might surface roll guidance. Another seller might mention it. You'll see it in options forums described variously as a lifesaving technique and a way to dig yourself into a deeper hole.

When to Roll and When to Just Let It Assign

Your covered call is in the money. The stock has moved above your strike, expiration is approaching, and the option is going to be assigned if you don't act. You have two choices: roll the position to a later date and higher strike, or let assignment happen and collect your proceeds.