I am learning about options and am trying to clarify the best time to place a covered call when I already own the underlying. I would appreciate responses from anyone who trades covered calls on either stocks or futures profitably. See the chart below for the numbering. Is it best to place a covered call when price: 1. Has made a higher low at support and is turning up. 2. Has made a higher high, but has not yet turned down. 3. Has made a higher high at resistance and is turning down. 4. Has made a higher low, but has not yet turned up. 5. None of the above Thanks for your input!