Thank you all for your comments.

Tax issues (whatever your case might be) certainly have to be taken into account as rayvt correctly pointed out. And hc and StevenFool importantly state they are doing *covered calls* (vs naked). Trying the naked variety can leave you ... well, naked.

I sold only a few today (some with different expiration and strike) and will accumulate some more if price keeps rising. Just to give more context on the example I gave before:

Price of shares when call sold: 521
Expiration: 9/17/27
Strike: 560
Price sold at: 31.06

So I received 31.06 x100 = 3,106 per contract.

Current Price/peak BV is close to 1.50.

Lets say BV grows 9% between 6/30/26 and 6/30/27 and it becomes peak BV at that time. BV 6/30/26 = 522,396 (348 per B). BV 6/30/27 = 569,412 (380 per B).

On 9/17/27:
If ratio is still at 1.5 BV, market price per B would be 569.
If ratio is back to 1.4 BV, market price per B would be 531.

So if shares are taken away from me, I end up receiving 560+31 = 591
That would equate to 1.56 BV.

That would also mean that, starting today at 521 per share, I would be making a gross profit of 13.44%

When looking at a table that Jim shared a few years back, when price to peak BV is close to 1.579, observed and modeled one year returns from that point are 3.5% and 2.7%.

So not an incredibly fantastic day to sell your shares, but also not a shabby one. And that would be the “bad” scenario.*

If price does nothing or moves up less than 7.5%, you keep your shares and you pocket the premium (31/521) = 5.96 %

If price decreases, you can repurchase the options at a lower price ... and maybe have the chance to rinse and repeat (I am inclined to think this will probably happen).

As a small cherry-on-the-top, the amount obtained from each contract can be invested at today’s 1yr rate of 4.5% (3,106*4.5%=$140). So each contract sold provides for a nice lunch with the significant other (Jim in Monaco could even probably afford a small pizza with that!).

These projections are all just guesses. BV, for example, can grow at a much bigger rate. So I wouldn’t do this with my whole position. But I do like the odds at this stage.

Kind regards to all!

* There is of course a really bad scenario where price just keep climbing and climbing and just never goes back to previous p/bv average ratios.