Totally Got screwed on my Meta covered calls Position after today's gains
Hey All
This is my first post here in this community which I discovered in distress.
Background : I have around a 1M dollars in Meta equity with roughly 1600 shares. I started making covered calls recently with the whole intention of being safe. Today's Meta stock gains completely screwed me over .
I am currently underwater on all of these options and I absolutely don't want to sell my equity at the current price as I know that there is a lot of upside to Meta still remaining in the months to come . Plus I will be incurring more than 100K in taxes alone if these get called away .
I already lost 10K today rolling these calls to what you see in the screenshot below. And just bought some time to think through how to manage this. The only good option I can think of is roll these further to a strike price that I desire for a much longer duration.
I wouldn't mind paying another 5-6K to get out of this mess and protect my equity. I am completely blanked out . Please suggest what I can do in this situation .
