AAII New England Chapter

I am the first one to admit, I am a beginner in options. I have however come up with some ideas that I would like to share. Note, that my strategy is different than the usual one. It is to own the stock, and make 4% plus dividends, plus appreciation on it per year by selling monthly OTM calls.
I have come up with some rules for covered calls.
1. You should have a plan about what you will do, no matter what the stock does before you write the call. You should not be thinking what do I do now, because the stock did this.
2. In general being assigned for this return approach is a good thing. I just sold a CC on Schwab. If I get assigned, it will mean I made about 7% in a month. That is not a bad thing.
3. If I am going to roll, I have two thoughts about it.
a. The stock appreciation plus the credit > the debit
b. The debit should be = to the credit, or maybe even a little > the credit. The reason is that when the stock does not go ITM, you will make a credit, so will come out on top over all. Say it is does not go ITM 4 times, and one time the debit is a little greater than the credit. You will be way ahead.

I realize a and b contradict each other, so that is unfortunately a judgement call, but I prefer a.