I don't recall discussing "repairing" a position.
I don't think of buying a naked put that drops below my strike as an exercise in repair.
Sometimes a bad market takes down good companies at good prices.
Selling covered calls and collecting dividends, is simply part of getting "paid to wait" for recovery.
Personally, I've never been a big fan of "rolling" a deteriorating position as a general practice, when that trade still has time left in the contract.
WHY?
In order to roll a position, you generally 1st close the position.
If the position is closed, the trade is over. It's done. It's gone.
As long as the trade is now over, done and gone,.... that remaining "unit of cash" is now free for another trade, in another stock.
Therefore, before getting right back into the same deteriorating stock you just got out of,... 1st look for another stock that may be safer and more stable, and may pay a similar or better credit, per the same unit of time.
The reason most investors prefer to roll (get back into the same deteriorating stock they just closed),... is because they feel if they make money on the "same stock", then that earlier loss was not really a loss. Even though it was.
An arguement could be made that I did a form of rolling on my NTES trade. It started out as a deteriorating $41 strike and now it's a break even $37 strike.
I don't consider it a roll, as I never closed the position, freeing up the unit of cash for another trade elsewhere.
But I also would not argue the point if someone disagreed.
