Beaten Down Stock, Beaten Down Option Premium

Well, if you like the stock, you can keep selling the CALLS at a lower strike price, esp. if they are likely to be OTM. I suggest keeping a tight leash on them, though: shorter terms, don’t be too aggressive on premium, and be prepared to move on the strike if the contract becomes ITM.

I’ve held on to PFE during good times and bad times by rolling out the expiry date, after getting caught with it going ITM. Now it’s OTM so I’ll be looking to my alternate strategy when expiry is due.