Does anyone repurchase the covered call contract if they are about to be assigned as the stock went above the contract strike price? and then sell the underlying stock for a profit later because it is more profitable?
I bought Merck Puts at 85. I got assigned. The stock went down to 83. I bought covered calls to 85. It is now at 87.60 with a couple of weeks left. If I close my covered call contract today and then sell the Merck stock next week I should be able to keep my put premium + any additional gains from price appreciation.