Historical Journal
This trade was originally executed on August 24, 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.
Original Trade — August 24, 2026
Bought 100 shares of TSLA at $357.93 per share
Sold 1 TSLA August 28 $360 Call at $6.13
This was a buy-write: I purchased 100 shares of TSLA and simultaneously sold a covered call against the position. The $6.13 option premium generated $613 of immediate premium income, while the $360 strike left a small amount of additional upside if the shares were called away.
Why I Made the Trade
My primary objective with this position was option income, not maximizing the potential appreciation of TSLA shares. I was comfortable owning the stock at $357.93, but I was also comfortable having the shares called away at $360 if TSLA moved higher.
The $6.13 call premium reduced my effective stock cost to $351.80 per share before any subsequent option income. If the shares were called away at $360, the stock gain plus the option premium would produce a maximum initial return of approximately 2.3% in four days, before commissions and fees.
Position Management
The original August 28 $360 covered call did not end the trade. As TSLA moved, I continued managing the position by rolling the covered call forward rather than simply closing the position.
This is an important part of how I trade for income. I don't view the original option as an isolated transaction. When the economics make sense, I may roll an existing call to a later expiration and/or a different strike, collecting additional premium while continuing to manage the underlying shares.
Trade Timeline
August 24: Bought 100 TSLA shares at $357.93 and sold the August 28 $360 call for $6.13.
September 2: Rolled the covered call to the September 4 $357.50 call, collecting an additional $3.40.
September 4: Rolled to the September 11 $360 call for an additional $0.40 credit.
September 9: Rolled to the September 18 $362.50 call for an additional $1.00.
September 10: Rolled the September 18 $362.50 call to the September 18 $365 call for an additional $2.87 credit.
Position Status
As of September 10, 2026, this position remains open. I still own the 100 TSLA shares, and the current covered call is the September 18 $365 call.
Through the original call and subsequent rolls, I have collected $13.80 per share, or $1,380, in total option premium. That premium reduces my effective economic basis in the shares from $357.93 to approximately $344.13 per share, before commissions and fees.
If the shares are ultimately called away at $365, the higher strike would also allow for $7.07 per share of stock appreciation from my original $357.93 purchase price. I will continue documenting the position until it is closed or the shares are called away.
Execution Parameters
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.
Important Disclaimer
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.