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What is a good price to “Roll” a Covered Call?
If the call is in the money and you believe the reason for the price jump was an overreaction with a pullback on the horizon or you anticipate downward movement for other reasons, I will roll (sometimes for a strike closer to at the money) as long as the trade results in a net credit!   You already have the statistical edge trading covered calls over everyone who purchased stock at the same point in time.  This is because covered calls reduce your cost basis and increase your probability of profit. For people reading this who are not interested in the math behind probability of profit(POP) for covered calls, you should be aware of why POP is higher for covered calls (CC).  With CCs you win when the stock price stays the same, you win when it goes down slightly, you win when the stock goes up.  You have two more ways to win than someone who just buys stock, therefore a higher probability of making a buck! Another option: If your stock is going to be called at a loss, or the strike you want to roll to results in a net debit, or  your cash funds are short of owning 100x shares and you are familiar with the stock, try writing a naked put for the price you want to buy at.  At experation, if the naked put is exercised, your basis is reduced by the premium of the put you sold, and you can write a covered call against the stock you now own.  If it expires worthless you keep the premium.  This is also another way to increase your POP.