How to turn a losing position to a wining position: sometime you may be wrong in trade when selling option but no fear, you can always rescue the position by selling call and put very quickly. Here, I got delivered shares but what I will do is sell out 1/2 the stock, keep half the stock. For the half stock sold, I will sell a atm put and then sell some itm put that is at the previous price I am assigned. Then I will sell a call option against whatever stock I still own. This Way, I can get back to a winning position very fast. See below, though I am losing on stock but I am up a lot on option. from a losing position , I turned it around quickly into a winning position. So, the key here is when you have assignment, you can always sell out the shares at a loss, sell an itm put with a breakeven price that is lower than current stock price and at the same time wait for the share to go back up. This way, you can ride the price up while still collecting the premium and not worried about loosing the opportunity of price run.