We roll a covered call strategy when we expect it to remain the same (that the price of the stockhas an upward trend). We look to roll the short call when there is little to no extrinsic value left. For example, if the stock price continues to be the same as when we did the trade.We can roll the short call by purchasing back the short option, and selling another call for the same strike in a further out expiration. We will also roll our call down if the stock price went down. This allows us to collect more profit, and reduce our max loss & breakeven point. We are always aware of our current breakeven point, and we do not roll our call down further than that. Doing this can lock in a loss if the stock price actually comes back up and leaves our call ITM.​To know more about trading you can check: https://www.investopedia.com/