This trade was originally executed on September 4, 2026, 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.

Bought 100 shares of SPCX at $148.79 per share
Sold 1 SPCX September 11 $150 Call at $3.22

This was a buy-write: I purchased 100 shares of SPCX and sold a covered call against the shares. The option generated $322 of immediate premium income, while the $150 strike provided $1.21 per share of additional upside if the shares were called away.

My primary objective was option income. I was comfortable owning SPCX at $148.79, but I was also comfortable selling the shares at $150 if the stock moved above the strike.

The $3.22 call premium reduced my effective economic basis in the shares from $148.79 to approximately $145.57 per share, before commissions and fees.

If the shares were called away at $150, the $1.21 stock gain combined with the $3.22 option premium would produce approximately $4.43 per share, or $443, before commissions and fees. That's approximately a 3.0% return in one week on the original stock purchase price.

The September 11 expiration gave this trade only one week to develop. That short duration was intentional. Rather than depending primarily on long-term appreciation in the shares, I was looking to generate meaningful option premium over a relatively short holding period.

As expiration approached, I could allow the shares to be called away, close the option, or roll the covered call if another expiration and strike offered attractive economics.

This is one of the reasons I like buy-writes for income: I know at entry what premium I'm receiving, the price at which I'm initially willing to sell the shares, and the approximate economics if assignment occurs.

September 4: Bought 100 SPCX shares at $148.79 and sold the September 11 $150 call for $3.22, generating $322 in immediate option premium.

September 10: With expiration approaching and the position still active, I continued evaluating whether allowing assignment or rolling the covered call offered the better economics.

As of September 10, 2026, this position remains open. I continue to own the 100 SPCX shares with the September 11 $150 covered call outstanding.

The original call has generated $3.22 per share, or $322, in option premium, reducing my effective economic basis in the shares to approximately $145.57 per share, before commissions and fees.

Because expiration is close, the next decision may come quickly. If I roll the call, allow assignment, or otherwise adjust the position, that transaction will become the next entry in this trade's timeline.

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.