sold a covered call so far out of the money it felt like free money. deep OTM, strike miles away, premium was basically pennies but hey, pennies for nothing, why not. statistically this thing had no business ever getting exercised. I did the mental probability math and felt very safe.
then the stock gapped hard on unexpected news. blew straight past my "impossible" strike overnight. and just like that, assigned. shares called away at that low strike I never in a million years thought would hit.
got called away leaving real, actual money on the table, all so I could collect a premium that wouldn't buy a coffee. "statistically unlikely" is a phrase that works right up until the one time it doesn't, and it only takes one time when you're short the option. unlikely isn't impossible. found that out for the price of my whole upside