Covered Call Extrinsic Monitor

2 days ago

This script monitors the amount of extrinsic value left in your covered calls. This helps you avoid being assigned and forced to sell your shares, as options holders normally don't exercise their right to buy until the extrinsic value has been more or less depleted.

This also increases your chances to roll for a credit, as you want to minimize what you pay to buy them back before selling out in time.

Select your options contract in the chart.
Go to indicator options, enter your underlying, strike and level of extrinsic value in %.
You can set the alarm to get notified when you enter the danger zone.

yesterday

Release Notes

This script monitors the amount of extrinsic value left in your covered calls. This helps you avoid being assigned and forced to sell your shares, as options holders normally don't exercise their right to buy until the extrinsic value has been more or less depleted.

This also increases your chances to roll for a credit, as you want to minimize what you pay to buy them back before selling out in time.

Select your options contract in the chart.
Go to indicator options, enter your underlying and level of extrinsic value in %.
You can set the alarm to get notified when you enter the danger zone.