Covered call automation for long-term investors
Toll Booth connects to your Schwab account and automates covered calls on stocks you already own — opening, rolling, and closing positions based on rules you set, so you don't have to manage every order by hand.
$100/month · No setup fees · Cancel anytime
How it works
Three simple steps to connect your Schwab account and start automating conservative covered calls.
Create your account with basic contact information. Most clients finish in about a minute.
Authorize account access through Schwab’s secure authorization process. You stay in control of permissions.
Toll Booth opens, rolls, and closes covered calls on positions you already own based on preferences you define.
What you can earn
Each covered call sold deposits premium into your account. If it expires worthless, you keep shares and premium. If filled early at a profit, the gain is locked in.
You collect cash each time a covered call is sold. The premium is yours to keep regardless of how the position closes.
Running covered calls manually means scanning chains, sizing, placing tickets, and watching fills symbol by symbol. Toll Booth handles all of it.
Conservative out-of-the-money strikes and automatic rolling aim to keep you in positions you want to hold long term.
The risks
Covered calls reduce how much you benefit from large rallies and do not protect against stock declines. Be clear on what you're getting into.
If the stock closes above your strike at expiration, your shares are sold at that price. You keep the premium, but miss any gain above the strike. Rolling reduces this risk but cannot eliminate it.
If a stock drops sharply, the option premium collected is unlikely to make up the difference. Toll Booth does not hedge against stock-price declines.
Outcomes depend on market conditions, your holdings, volatility, and how you configure the system. Hypothetical examples are for illustration only and do not predict future results.
Toll Booth follows rules you set. It is not a broker-dealer or financial adviser and cannot assess whether this strategy fits your goals, risk tolerance, or tax situation.
Options involve risk and are not suitable for all investors. See Legal & Disclosures for full risk information.
Trusted by clients
What long-term investors say about Toll Booth Trading.
“Its like collecting rental income on a vacation home without the hassle.”
— V.S. , Client
“I like generating income from my concentrated positions and hedging downside risk.”
— E.L. , Client
“Since connecting my account last summer, the additional income generated from covered call premiums has exceeded my expectations.”
— P.S. , Client
Testimonials may not be representative of the experience of other customers and are no guarantee of future performance or success. See Legal.
Methodology and notes: View details