because you sell covered calls it does not mean you are stuck in the position. you can always buy those calls back.
selling covered calls protects against small and medium sized drops.for instance, lets say i sell call on the spy that are 2% out of the money and i receive 1.5% for this.
my maximum gain between now and expiration is 3.5%, whether the market is up 2% or 10%.
if the market does nothing i make 1.5%. if the market is down 1.5% i break even. if the market is down 3% i am down 1.5%. however, if the market is down 10% i am down 8.5%.
selling covered calls can soften 