How Does Selling a Covered Call Affect the Overall Delta of the Portfolio?
Selling a covered call reduces the overall positive delta of the portfolio. The long stock position has a positive delta of +100 (for 100 shares), and the short call option has a negative delta (between 0 and -100).
By combining them, the portfolio's net delta is reduced, making the position less sensitive to price increases and more stable. The strategy is partially delta-hedged.