Situation: Sold OTM call while long the underlying. Stock did not tank, it went up too much breaching the breakeven point (strike price+premium).
If I sell 1 lot of call options and I am being long the underlying, do I still need to do delta hedging? If the underlying moves too much on the upside, at expiry, I can simply sell the underlying and pay the difference once I am assigned. This will offset the loss incurred but I still get to keep the premium. Will delta hedging help me in anyway if I hold till expiry?
Suggestions and comments are truly appreciated. Thanks in advance!!