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 600 shares of SOFI
Original assignment price: approximately $25 per share
Basis after averaging and prior covered-call income: approximately $21.67 per share

This was not a new stock position. I originally acquired SOFI shares through option assignment at approximately $25 and subsequently worked on reducing the economic cost of the position.

By September, I owned 600 shares and had already sold covered calls against SOFI several times. My objective was straightforward: continue generating option income while working down the cost of an underwater stock position.

Sold 6 SOFI September 18 $18.50 Calls at $0.32

With 600 shares, I sold six covered-call contracts, covering the entire position.

The $0.32 premium generated $192 of additional option income before commissions and fees.

SOFI was trading substantially below my original acquisition price, so simply waiting for the shares to return to $25 was not my preferred approach.

Instead, I had been using covered calls to generate incremental income against the shares. Each successful call sale provides additional cash flow and helps improve the economics of the overall position.

The September 18 $18.50 calls continued that process.

The objective wasn't to recover the entire loss with one trade. It was to repeatedly collect reasonable premium while actively managing the position over time.

There is an important trade-off when selling covered calls below the original stock purchase price.

If SOFI rose sharply through the $18.50 strike and I allowed assignment, the shares could be called away below my original purchase price. For that reason, this position required active management.

If the stock moved higher, I could evaluate whether rolling the calls to another expiration or strike offered attractive economics. If not, I would have to decide whether accepting assignment made more sense.

I don't assume that every covered call must be rolled. The decision depends on the economics available at the time.

Original position: SOFI shares were initially acquired through assignment at approximately $25 per share.

Position repair: Additional share purchases and repeated covered-call income subsequently reduced the economic basis of the position to approximately $21.67 per share.

September 9: Sold 6 September 18 $18.50 covered calls at $0.32, generating another $192 in option premium.

September 10: The covered calls remained open, and I continued monitoring SOFI as the September 18 expiration approached.

As of September 10, 2026, the SOFI position remains open. I continue to own 600 shares with six September 18 $18.50 covered calls outstanding.

The September 9 transaction generated $192 of additional option premium. More importantly, it represents another step in a longer-running effort to improve the economics of an underwater stock position through repeated covered-call income.

I will continue documenting subsequent rolls, expirations, assignments, or other adjustments as the position develops.

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.