Mistake learnt - Doing covered call but not wanting to relinquish the stock?

 I opened a sell covered call  SoFi  May 29' 26  $17.5  0.04 on 22 May 2026, stock price $15.56 and on Wednesday I noticed there was a strong rebound trend since Monday. Before my mistake, I did not close the contract until the last day, and there was no proper exit strategy to avoid heavy losses. I absorbed $0.59 damage in order to hold Sofi stocks in the long term as I believe in their growth story.

I consulted a sell put options expert. 

This was his reply:

Having a stock move above a covered call strike is not necessarily a bad thing, as the money you'll make on the stock appreciation should more than offset whatever you might lose on the covered call (as long as the call strike is above your stock's initial cost-basis).

Now, I understand the concern about not wanting to relinquish the stock if you're still bullish on it, especially for the long term.

A couple of choices to consider:

1. Roll the call strike up & out if the stock gets close.  This entails buying back the original covered call and re-selling a new one for a further out expiration date and a further out-of-the-money strike.
2. Initially use a covered call strike that is further out in time than you think you might want to use.  This allows for a bigger premium intake, and the ability to really go further out-of-the-money.