No. of Recommendations: 1
Was thinking about selling some Jan 2027 covered calls against my position, but the cost basis is so low if the shares get called I'd have a large tax bill. Yeah, letting the tax tail wag the dog.
What you could do is determine the price at which you would surely sell some ... and then sell the covered calls at that point. Usually that level is somewhat higher than current (obviously, otherwise you would sell now), so there is a chance that those calls expire worthless. Then you get to keep the premium. But if the stock shoots up past that point, you get to sell at the higher price PLUS you get to keep the premium received. Win-win (if you are serious about selling some at a specific level).