{"id":"options-covered-calls","category":"options_strategy","title":"Covered Call Income Strategy","summary":"Sell calls above current price on existing holdings to generate 1-3% monthly income.","trigger":{"always":false,"sectors":[],"tickers":[],"regimes":["trending_bull","range_bound"]},"ttl_hours":336,"content":{"when_to_use":"Bullish to neutral on the stock. IVR moderate to high (>30). No major catalyst expected.","parameters":"Sell call at 0.25-0.30 delta, 30-45 DTE. Target 1-3% of stock value in premium per cycle.","strike_selection":{"aggressive":"0.30 delta — higher premium, caps more upside","conservative":"0.15 delta — lower premium, allows more upside movement"},"management":["Close at 50% profit early to redeploy capital","Roll up and out if stock moves strongly toward strike before expiry","Do not sell calls into earnings — IV crush removes the edge"],"key_risk":"Stock rallies sharply through the strike — you miss the upside beyond the call strike. Solution: only sell covered calls when you're neutral, not when strongly bullish.","verdict":"Best income strategy for existing long-term holdings in a sideways to slowly rising market. Does not protect against downside — add protective puts separately if concerned about crash risk."}}