Established Covered Call in Coinbase Global Inc.

This afternoon I established a short-term Covered Call position in Coinbase Global Inc. (ticker COIN).  Coinbase is the leading cryptocurrency exchange platform in the U.S. for both retail and institutional clients.  My net buy/write limit order at $308.32 was executed by simultaneously purchasing one hundred shares at $331.45 and selling one October 3rd, 2025 weekly Call option at the $315.00 strike price at $23.13 per share, which provides a $6.68 per share = [$23.13 Call option premium received - ($331.45 stock purchase price - $315.00 option strike price)] maximum time value profit potential.  A moderately in-the-money Covered Call position was established and the probability that these shares will close in-the-money on the options expiration date was 67.1%.  The next quarterly earnings report on November 5th, 2025 is after the October 3rd options expiration date.

As detailed below, a potential return-on-investment result is +2.2% absolute return-on-investment (equivalent to +71.8% annualized return-on-investment for the next 11 days) if the Coinbase Global Inc. share price is in-the-money (i.e. above the $315.00 strike price) and therefore assigned on its October 3rd, 2025 options expiration date.  

Coinbase Global Inc. (COIN) -- New Covered Call Position

Today's buy/write net limit order transaction was as follows:
9/22/2025 Bought 100 Coinbase Global Inc. shares at $331.45.

9/22/2025 Sold 1 COIN 10/3/2025 $315.00 Call option @ $23.13 per share.  The Implied Volatility of this Call option was 59.7% when this position was established.  

A possible overall performance result (including commissions) for this Coinbase Global Inc. Covered Call position is as follows:
Covered Calls Net Investment: $30,832.67
= ($331.45 - $23.13) * 100 shares + $.67 commission

Net Profit:
(a) Option Income: +$2,312.33
= ($23.13 * 100 shares) - $.67 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If 100 Coinbase shares assigned at the $315.00 strike price at expiration): -$1,645.00

+($315.00 strike price - $331.45 stock purchase price) * 100 shares

Total Net Profit Potential (If 100 COIN shares are in-the-money and therefore assigned at the $315.00 strike price at the options expiration date): +$667.33
= (+$2,312.33 option income + $0.00 dividend income - $1,645.00 capital appreciation)

Potential Absolute Return-on-Investment: +2.2%
= +$667.33/$30,832.67
Potential Annualized Return-on-Investment: +71.8%
= (+$667.33/$30,832.67) * (365/11 days)