📌 Trade Details
- Stock: IONQ (100 shares already owned)
- Strategy: Sell 1 Covered Call
- Expiration Date: July 18
- Strike Price: $45
- Premium Collected: $157
🧠 Why This Move?
💸 Extra Income While Holding
With this covered call, we’ve collected $157 upfront, adding passive income while holding our IONQ shares. It’s a smart way to generate cash flow from shares we already own.
🎯 Defined Exit Opportunity
If IONQ climbs above $45, we’re happy to let the shares go at a gain while keeping the premium. If it stays below, we just keep the premium and can write again.
🛡️ Downside Cushion
The $157 credit acts as a buffer—slightly reducing our breakeven point on the stock. Every bit counts in volatile markets.
🔍 Risk/Reward Perspective
- Max Profit: $157 + potential capital gains if shares are called at $45
- Breakeven: Original cost basis – $1.57
- If IONQ stays under $45: We keep the premium and reassess for the next covered call opportunity.
- If IONQ rises above $45: Shares may be called, locking in gains and allowing for strategic repositioning.
🚀 Final Take
Covered calls remain a core strategy in our playbook—steady income, reduced cost basis, and a way to manage exit timing. This IONQ trade fits that mold perfectly.
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