#CoveredCalls – With the up move today now need to roll a day early for dividend risk.

Rolled SPY MAR 17 2023 380.0 Call to MAR 24 2023 382.0 Call @ .60 credit (12.25 total now)
Rolled SPY MAR 17 2023 383.0 Calls to MAR 24 2023 385.0 Calls @ .25 credit (9.00 total now)
Rolled SPY MAR 17 2023 384.0 Calls to MAR 24 2023 386.0 Calls @ .35 credit (8.80 total now)
Rolled SPY MAR 17 2023 385.0 Calls to MAR 24 2023 387.0 Calls @ .60 credit (8.60 total now)

How do you know if your in the money short call might be at risk during an ex-dividend event? Here’s a quick and easy way. Just look at the value of the corresponding put:

Any option that has an extrinsic value of less than the amount of the dividend might be a candidate for early exercise. So if a trader is short an ITM call and the strike’s corresponding put is trading for less than the upcoming dividend, they’re more likely to be assigned.