This trade was originally executed on September 9, 2026, shortly before the public launch of Options Income Journal. It is being added to the journal from my actual trading records. The prices shown are my actual fills, and the decisions described are the decisions I made while managing the position.

Owned 200 shares of INTC
Approximate stock basis: $99.84 per share

This was an existing position rather than a new buy-write. I originally owned 100 shares at a substantially higher price and later purchased another 100 shares at a lower price, bringing my average stock basis to approximately $99.84 per share.

With the larger position established, covered calls gave me a way to generate additional income while allowing the shares some room to appreciate.

Sold 1 INTC September 11 $105 Call at $2.64

The covered call generated $264 of immediate option premium on 100 of my 200 INTC shares.

The $105 strike was also above my approximate $99.84 average stock basis, so if those 100 shares were ultimately called away at $105, I would capture both option income and stock appreciation.

My objective was to generate short-duration option income while continuing to manage an existing INTC position.

I didn't need INTC to make a dramatic move higher for this trade to be useful. The $2.64 call premium provided meaningful immediate income, while the $105 strike still left approximately $5.16 per share of upside above my average stock basis.

On the 100 shares covered by this particular call, the $2.64 premium reduced the economic basis from approximately $99.84 to $97.20 per share, before commissions and fees.

As expiration approached, I had several possible outcomes. I could allow assignment if INTC finished above the strike, let the call expire if it remained below $105, close the option, or roll it forward if another expiration offered attractive economics.

I don't automatically roll every covered call. The decision depends on the net credit available, the new expiration and strike, and whether extending the obligation improves the overall economics of the position.

In this case, another opportunity developed to extend the covered call while collecting additional premium.

September 9: Sold 1 INTC September 11 $105 covered call for $2.64, generating $264 in option premium.

September 10: Rolled the September 11 $105 call to the September 18 $105 call, collecting an additional $2.10 net credit, or $210.

The two transactions generated a combined $4.74 per share, or $474, in option premium on the 100 shares covered by this call sequence.

As of September 10, 2026, the position remains open. I continue to own 200 INTC shares, with one September 18 $105 covered call outstanding against 100 of those shares.

The September 9 call and September 10 roll have generated a combined $474 in option premium.

Measured against the approximate $99.84 average stock basis, that $4.74 of cumulative premium reduces the economic basis of the 100 shares involved in this call sequence to approximately $95.10 per share, before commissions and fees.

The other 100 INTC shares remain uncovered by this particular call sequence, so I am not applying the $474 premium across the entire 200-share position.

The prices reported in Options Income Journal are my actual execution prices.

For current trade alerts, stock and option prices can move materially between the time I execute a trade and the time an alert reaches you.

If the economics of a trade have changed, do not chase my reported fill. Options Income Journal documents the trades I make in my own account; these are not trade instructions or signals.

Options Income Journal is provided for educational and informational purposes only. Nothing published here should be considered individualized investment, financial, tax, or legal advice, or a recommendation to buy or sell any security or option. Options involve risk and are not appropriate for every investor. You are responsible for evaluating whether any investment or options strategy is appropriate for your own circumstances.