My previous 100 shares of MU (Micron Technology) were called away yesterday at $965 per share when my October 5 $965 covered call was exercised.

That closed my previous MU position.

Today I established a new MU position:

Bought: 100 shares MU @ $1,061.73
Sold: 1 October 7 $1,065 Call @ $9.89
Gross option premium: $989.00

Even though my previous MU shares were called away, that doesn't mean I'm finished with the stock.

Once a position closes, I look at the opportunity in front of me and make a new decision.

Today I still liked MU as an underlying stock for generating option income, so I bought another 100 shares at $1,061.73 and immediately sold the October 7 $1,065 covered call.

This is a very short-duration buy-write with an expiry date of tomorrow (10/7). The $9.89 premium was attractive to me, and the $1,065 strike is slightly above my new purchase price.

I'm not trying to predict where MU will go next.

I'm simply looking at the economics of the trade and asking myself whether I'm comfortable with the possible outcomes.

In this case, I am.

The $9.89 call premium reduces my effective economic cost on the new shares to approximately:

If MU is above $1,065 at expiration and the shares are called away, I'll receive a stock gain of approximately $327, in addition to the $989 gross option premium.

That would give me approximately:

on $106,173 of newly deployed capital, before commissions and fees.

That's approximately 1.24% on the capital committed to the position for a very short-duration trade that expires tomorrow (10/7).

If MU remains below $1,065, I'll continue to own the shares and evaluate the next covered-call opportunity.

Either outcome is acceptable to me.

I think this distinction is important.

Yesterday's assignment ended the previous MU position.

Today's purchase is a new trade with new capital and a new decision.

I'm not buying MU again because I feel obligated to get back into a stock that was called away.

I'm buying it because, looking at the opportunity today, I still think the stock and the available option premium make sense for the way I trade.

I'm not attached to the position. I'm attached to the process.

I was comfortable making this trade around the prices shown above. If the stock or option has moved materially by the time you receive this alert, I would not chase it. The economics may be different from the trade I made.

This is a record of my actual trade and actual fill, not a trade instruction or signal.