Established Covered Calls Position in Bristol-Myers Squibb Company

A new Covered Calls position of 15 days duration was established today in Bristol-Myers Squibb Company (ticker BMY).  My buy/write net debit limit order at $59.38 was executed and the time value was $.62 per share [$1.57 Call options premium - ($60.95 stock purchase price - $60.00 strike price)].  An in-the-money strike price was established with the probability that this Bristol Myers stock will close in-the-money (i.e. above the $60.00 strike price) on the 9/11/2026 options expiration date was 63.1% when this transaction was executed.  As preferred, their next quarterly earnings report on October 29th is well after the October 9th options expiration date. 

This Bristol Myers Covered Calls position was established to take advantage of my Dividend Capture Strategy (see details here) since there is an upcoming quarterly ex-dividend of $.63 per share (4.1% dividend yield) on October 2nd, 2026.  So, two potential return-on-investment results for this position, as detailed below, include the possibility of early assignment on the last business day prior to the ex-dividend date and on the October 9th options expiration date if instead BMY's stock price is in-the-money on its October 9th, 2026 options expiration date.  

Bristol Myers Squibb is a global biopharmaceutical company that discovers, develops, manufactures, and sells prescription medicines, with a focus on oncology, immunology, cardiovascular disease, and neuroscience. Its largest products include Eliquis for preventing blood clots and stroke, Opdivo for cancer, Pomalyst/Imnovid and Abecma for blood cancers, and Camzyos for certain heart conditions. The company generates most of its revenue from a portfolio of established drugs while investing heavily in research and development to replace revenue as patents expire and to expand newer products. Bristol Myers Squibb's business model therefore combines high-margin pharmaceutical sales with substantial R&D spending, acquisitions/licensing, and ongoing development of its pipeline to support longer-term growth.

As detailed below, a potential return-on-investment result if Bristol Myers share price is: (1) +1.0% absolute return-on-investment (equivalent to +47.1% annualized return-on-investment for the next 8 days) if the stock is assigned early on October 1st (the last day before the ex-dividend date); OR (2) +2.1% absolute return-on-investment (equivalent to +50.9% annualized return-on-investment for the next 15 days) if the stock is instead in-the-money (i.e. above the $60.00 strike price) and therefore assigned on its October 9th, 2026 options expiration date.

Bristol-Myers Squibb Company (BMY) -- New Covered Calls Position

The buy/write net limit order transaction was as follows:
9/24/2026 Bought 200 Bristol-Myers Squibb Company shares at $60.95.

9/24/2026 Sold 2 BMY 9/11/2026 $60.00 Call options @ $1.57 per share.  The Implied Volatility of these Calls was 21.6 when this position was established, which is above (as preferred) the current value of the S&P 500 Volatility Index (i.e. VIX) which was 15.7.

Two possible overall performance results (including commissions) for this Bristol Myers Covered Calls position are as follows:
Covered Calls Cost Basis: $11,877.34
= ($60.95 - $1.57) * 200 shares + $1.34 commission

Net Profit Components:
(a) Options Income: +$312.66
= ($1.57 * 200 shares) - $1.34 commission
(b) Dividend Income (If option exercised early on October 1st, the last business day prior to the October 2nd ex-dividend date): +$0.00; or
(b) Dividend Income (If Bristol Myers shares assigned at the October 9th, 2026 options expiration): +$126.00 = ($.63 dividend per share x 200 shares)

(c) Capital Appreciation (If BMY Call options assigned early on October 2nd): -$190.00

+($60.00 strike price - $60.95 stock purchase price) * 200 shares; or
(c) Capital Appreciation (If shares assigned at $60.00 strike price at the 10/9/2026 options expiration): -$190.00
+($60.00 - $60.95) * 200 shares

1. Total Net Profit [If option exercised early on the last business day prior to the Oct. 2nd ex-dividend date)]: +$122.66

= (+$312.66 options income + $0.00 dividend income - $190.00 capital appreciation); or

2. Total Net Profit (If Bristol Myers shares assigned at $60.00 strike price at the Oct. 9th, 2026 expiration): +$248.66

= (+$312.66 options income + $126.00 dividend income - $190.00 capital appreciation)

1. Potential Absolute Return-on-Investment (If option exercised early on 10/2/2026): +1.0%

= +$122.66/$11,877.34

Potential Annualized Return-on-Investment: +47.1%

= (+$122.66/$11,877.34) * (365/8 days); or

2. Potential Absolute Return-on-Investment (If BMY shares assigned at $60.00 at the October 9th, 2026 options expiration date): +2.1%

= +$248.66/$11,877.34

Potential Annualized Return-on-Investment (If Bristol Myers shares assigned at the Oct. 9th, 2026 options expiration date): +50.9%

= (+$248.66/$11,877.34) * (365/15 days)

Established Covered Call in NVIDIA Corporation

A Covered Call position of 15 days duration was established today in NVIDIA Corporation (ticker NVDA).  My buy/write net debit limit order at $211.98 was executed and the time value (aka extrinsic value) was $3.02 per share [$9.85 Call option premium - ($221.83 stock purchase price - $215.00 strike price)].  An in-the-money strike price was established with the probability that NVIDIA's stock will close in-the-money (i.e. above the $215.00 strike price) on the 10/9/2026 options expiration date was 68.3% when this transaction was executed.  NVIDIA's next earnings report is on 11/17/2026 which, as preferred, is after the 10/9/2026 options expiration date.   

As detailed below, a potential return-on-investment result if NVIDIA's share price is in-the-money (i.e. above the $215.00 strike price) and therefore assigned on its October 9th, 2026 options expiration date is +1.4% absolute return-on-investment (equivalent to +34.6% annualized return-on-investment for the next 15 days).  

NVIDIA Corporation (NVDA) -- New Covered Call Position

The buy/write net limit order transaction was as follows:
9/24/2026 Bought 100 NVIDIA Corporation shares at $221.83.  

9/24/2026 Sold 1 NVIDIA 10/9/2026 $215.00 Call option @ $9.85 per share.  The Implied Volatility of this Call was 31.6 when this position was established, which is above (as preferred) the current value of the S&P 500 Volatility Index (i.e. VIX) of 15.9.

A possible overall performance result (including commissions) for this NVIDIA Corporation Covered Call position is as follows:
Covered Call Net Investment: $21,198.67
= ($221.83 - $9.85) * 100 shares + $.67 commission

Net Profit:
(a) Option Income: +$984.33
= ($9.85 * 100 shares) - $.67 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If 100 NVIDIA shares assigned (i.e. above the $215.00 strike price) on the 10/9/2026 options expiration date): -$683.00
+($215.00 strike price - $221.83 stock purchase price) * 100 shares

Total Net Profit Potential (If 100 NVIDIA shares are in-the money and therefore assigned at the $215.00 strike price on the 10/9/2026 options expiration date): +$301.33

= (+$984.33 option income + $0.00 dividend income - $683.00 capital appreciation)

Potential Absolute Return-on-Investment (If 100 NVIDIA shares assigned (i.e. sold) at the $215.00 strike price on the 10/9/2026 options expiration date): +1.4%

= (+$301.33/$21,198.67)

Potential Annualized Return-on-Investment (If 100 NVIDIA shares assigned at the $215.00 strike price on the 10/9/2026 options expiration date): +34.6%
= (+$301.33/$21,198.67) * (365/15 days)

Established Covered Calls in Gap Inc.

This morning a short-term Covered Calls position was established in Gap Inc. (ticker symbol GAP) when 600 shares were purchased at $21.23 and 6 October 9th, 2026 Call options were sold at $1.03 per share at the $20.50 strike price.  The buy/write net debit limit order at $20.20 was executed, so the potential time value profit was $.30 per share [$1.03 Call options premium - ($21.23 stock purchase price - $20.50 strike price)]. 

This Gap Covered Calls position was established to take advantage of my Dividend Capture Strategy (see details here) since there is an upcoming quarterly ex-dividend of $.175 per share (3.3% dividend yield) on October 7th, 2026.  So, two potential return-on-investment results for this position, as detailed below, include the possibility of early assignment since the ex-dividend is only 2 days prior to the October 9th, 2026 options expiration date.  An in-the-money Covered Calls position was established with the probability of the stock closing in-the-money (and therefore being assigned) on the 10/9/2026 options expiration date was 67.3%.  Also, there is no quarterly earnings report prior to the options expiration date. 

Gap, Inc. operates as an apparel retail company that offers apparel, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, and Athleta brands. Management expects modest net sales growth of 1% to 2% year-over-year, alongside an improved full-year adjusted operating margin of approximately 7.4% to 7.6%.  Gap trades at a trailing P/E ratio of roughly 6.4x, which is notably lower than its historical 10-year median and below the broader cyclical retail industry median.   

Gap did not appear in any of my stock screeners, but CFRA, Morningstar, and LSEG all have a Buy rating on the company.  The 22 Wall Street analysts that cover the company rate it as a 'Buy' on average with a mean target price of $26.42 (+24.4% above today's purchase price).

As detailed below, two potential return-on-investment results are: 

•  +1.5% absolute return (equivalent to +40.8% annualized return-on-investment for the next 13 days) if the Calls are assigned early (on the last business day prior to the October 7th, 2026 ex-dividend date); OR 

• +2.3% absolute return (equivalent to +56.4% annualized return-on-investment over the next 15 days) if the stock is assigned on the October 9th, 2026 options expiration date.

Gap Inc. (GAP) -- New Covered Calls Position
The buy/write transaction was:

9/24/2025 Bought 600 Gap Inc. shares @ $21.23
9/24/2025 Sold 6 Gap 10/9/2026 $20.50 Call options @ $1.03
Note: the Implied Volatility of the Call options was 35.4 when this buy/write transaction was executed.
10/7/2026 Upcoming quarterly ex-dividend of $.175 per share

Two possible overall performance results (including commissions) for this Gap Inc. Covered Calls position are as follows:
Covered Calls Cost Basis: $12,124.02
= ($21.23 - $1.03) * 600 shares + $4.02 commission

Net Profit Components:
(a) Options Income: +$613.98
= ($1.03 * 600 shares) - $4.02 commission
(b) Dividend Income (If option exercised early on Oct. 6th, the last business day prior to the October 7th ex-dividend date): +$0.00; or
(b) Dividend Income (If Gap shares assigned at the October 9th, 2026 options expiration): +$105.00 = ($.175 dividend per share x 600 shares)

(c) Capital Appreciation (If Gap Call options assigned early on October 7th): -$438.00

+($20.50 strike price - $21.23 stock purchase price) * 600 shares; or
(c) Capital Appreciation (If shares assigned at $20.50 strike price at the 10/9/2026 options expiration): -$438.00
+($20.50 - $21.23) * 600 shares

1. Total Net Profit [If option exercised early on the last business day prior to the Oct. 7th ex-dividend date)]: +$175.98

= (+$613.98 options income + $0.00 dividend income - $438.00 capital appreciation); or

2. Total Net Profit (If Gap shares assigned at $20.50 strike price at the Oct. 9th, 2026 expiration): +$280.98

= (+$613.98 options income + $105.00 dividend income - $438.00 capital appreciation)

1. Potential Absolute Return-on-Investment (If option exercised early on 10/7/2026): +1.5%

= +$175.98/$12,124.02

Potential Annualized Return-on-Investment: +40.8%

= (+$175.98/$12,124.02) * (365/13 days); or

2. Potential Absolute Return-on-Investment (If Gap Inc. shares assigned at $20.50 at the January 9th, 2026 options expiration date): +2.3%

= +$280.98/$12,124.02

Potential Annualized Return-on-Investment (If Gap shares assigned at the Oct. 9th, 2026 options expiration date): +56.4%

= (+$280.98/$12,124.02) * (365/15 days)

Covered Call Position Established in Alphabet Inc.

A new short-term Covered Call net debit buy/write limit order was transacted in today's late morning trading session in Alphabet Inc. (ticker GOOGL) for the October 2nd, 2026 expiration and at the $330.00 strike price.  The order was placed at a $326.92 limit price, so the extrinsic value (which represents the maximum profit potential for this position) was $3.08 per share [$13.75 Call option premium - ($340.67 stock purchase price - $330.00 strike price)].  The probability that this position will be in-the-money and therefore assigned on its options expiration date was 72.8% when this order was transacted.

As detailed below, the potential return-on-investment result is +0.9% absolute return-on-investment in 9 days (equivalent to a +38.1% annualized return-on-investment).  

Alphabet Inc. (GOOGL) -- New Covered Call Position

The simultaneous buy/write transaction was as follows:
9/23/2026 Bought 100 shares of Alphabet Inc. stock @ $340.67 per share.  
9/23/2026 Sold 1 Alphabet Inc. October 2nd $330.00 Call option @ $13.75 per share.
Note: The Implied Volatility of the Call option was approximately 32.7 when this transaction was executed which, as I prefer, is well above the current 14.7 of the S&P 500 Volatility Index (i.e. VIX). 

A possible overall performance result (including commissions) would be as follows:
Covered Call Cost Basis: $32,692.67
= ($340.67 - $13.75) * 100 shares + $.67 commission

Net Profit Components:
(a) Option Income: +$1,374.33
= ($13.75 * 100 shares) - $.67
(b) Dividend Income: +$0.00 
(c) Capital Appreciation (If Alphabet stock is above $330.00 strike price at the 10/2/2026 options expiration date): -$1,067.00
= ($330.00 strike price - $340.67 stock purchase price) * 100 shares

Total Net Profit Potential: +$307.33
= (+$1,374.33 option income + $0.00 dividend income - $1,067.00 capital appreciation)

Potential Absolute Return-on-Investment: +0.9%
= +$307.33/$32,692.67
Potential Equivalent Annualized Return-on-Investment: +38.1%
= (+$307.33/$32,692.67) * (365/9 days)

Established Covered Calls Position in Hewlett Packard Enterprise Company

In this afternoon's trading session, a short-term Covered Calls position at my net debit limit order price of $56.84 executed in Hewlett Packard Enterprise Company (ticker symbol HPE) when 400 shares were purchased at $61.17 and 4 October 2nd, 2026 Call options were sold at $4.33 per share at the $58.00 strike price.  The potential time value profit was $1.16 per share [$4.33 Call options premium - ($61.17 stock purchase price - $58.00 strike price)].  An in-the-money Covered Calls position was established with the probability of the stock closing in-the-money (and therefore being assigned) on the 10/2/2026 options expiration date was 67.9%.  

HPE is an enterprise technology company centered on servers/compute, storage, networking, and hybrid cloud/AI infrastructure, sold mainly to large businesses and public-sector clients. It's shifting revenue toward recurring software and as-a-service offerings (GreenLake) for more predictable income, though hardware and integrated solutions still make up a large share of sales. A key strategic move was the 2025 acquisition of Juniper Networks, merged with Aruba to form HPE Networking, strengthening its position in AI-driven enterprise networking. HPE is also leaning into the AI infrastructure boom, with its hybrid cloud and edge computing position mattering as businesses mix on-premises and public cloud. Competitively, it faces pressure from major cloud providers and hardware rivals, and its performance is tightly linked to execution, IT spending cycles, and successful integration of acquisitions. 

As preferred, there is no quarterly earnings report prior to the options expiration date.  Hewlett Packard Enterprise appeared in my "Next-Year Growth>P/E and 5-Year PEG <1.4" stock screener by passing all criteria as shown below:

As detailed below, a potential return-on-investment result is: +2.0% absolute return (equivalent to +74.1% annualized return-on-investment for the next 10 days) if the stock is assigned on the October 2nd, 2026 options expiration date.

Hewlett Packard Enterprise Company (HPE) -- New Covered Calls Position
The buy/write transaction was:
9/22/2026 Bought 400 Hewlett Packard Enterprise shares @ $61.17.
9/22/2026 Sold 4 HPE 10/2/2026 $58.00 Call options @ $4.33.
Note: the Implied Volatility of the Call options was high at 64.2% when this buy/write transaction was executed. 

A possible overall performance result (including commissions) for this Hewlett Packard Enterprise Company Covered Calls position is as follows:
Covered Calls Cost Basis: $22,738.68
= ($61.17 - $4.33) * 400 shares + $2.68 commission

Net Profit Components:
(a) Options Income: +$1,729.32
= ($4.33 * 400 shares) - $2.68 commission
(b) Dividend Income: +$0.00

(c) Capital Appreciation (If shares assigned at the $58.00 strike price at the 10/2/2026 options expiration): -$1,268.00

+($58.00 - $61.17) * 400 shares

Total Net Profit (If Hewlett Packard Enterprise shares assigned at $58.00 strike price at the Oct. 2nd, 2026 expiration): +$461.32

= (+$1,729.32 options income + $0.00 dividend income - $1,268.00 capital appreciation)

Potential Absolute Return-on-Investment: +2.0%

= +$461.32/$22,738.68

Potential Annualized Return-on-Investment: +74.1%

= (+$461.32/$22,738.68) * (365/10 days)

September 18th, 2026 Options Expiration Results

The Covered Calls Advisor Portfolio had two Covered Call positions with September 4th, 2026 options expirations and both positions (Alphabet Inc. and NVIDIA Corporation) were in-the-money at yesterday's market closing, so the Call options expired and both Covered Call positions were closed out by selling the stocks at their respective strike prices.  The return-on-investment summary for each position is as follows:

1. Alphabet Inc. (GOOGL) -- +1.0% absolute return-on-investment (equivalent to +42.4% annualized return-on-investment) for the 9 days of this investment.  This Alphabet Covered Call position had a $320.00 strike price and it closed in-the-money at $349.54 yesterday.  The original blog post showing the details of this position is here. 

2. Nvidia Corporation (NVDA) -- +0.8% absolute return-on-investment (equivalent to +39.9% annualized return-on-investment) for the 7 days of this investment.  This NVIDIA Covered Call position had a $212.50 strike price and it closed in-the-money at $222.27 yesterday.  The original blog post showing the details of this position is here.

Send your questions/comments to the email address shown below on any topics related to the Covered Calls investing strategy.  As always, any new positions I establish will continue to be posted on this blog site when they occur.  

Jeff Partlow
The Covered Calls Advisor
partlow@cox.net

Covered Call Position Established in NVIDIA Corporation

A new Covered Call position was established this morning in NVIDIA Corporation (ticker NVDA).  A slightly out-of-the-money position was established when one hundred shares were purchased at $217.73 and one October 2nd, 2026 Call option was simultaneously sold at the $220.00 strike price at $4.83 per share. The probability that NVIDIA's stock will close in-the-money on the 10/2/2026 options expiration date was 42.7% when this transaction was executed. Two potential return-on-investment results are detailed below -- one if the stock price is unchanged at $217.73 at the options expiration date and another if the stock rises and closes above the $220 strike price on the 10/2/2026 options expiration date.

NVIDIA Corporation (NVDA) -- New Covered Call Position

Today's buy/write net limit order transaction was as follows:
9/17/2026 Bought 100 NVIDIA Corporation shares at $217.73.

9/17/2026 Sold 1 NVIDIA 10/2/2026 $220.00 Call option @ $4.83 per share. The Implied Volatility of the Call was 32.5 when this position was established. 

Two possible overall performance results (including commissions) for this NVIDIA Corporation Covered Call position are as follows:
Covered Call Net Investment: $21,290.67
= ($217.73 - $4.83) * 100 shares + $.67 commission

Net Profit:
(a) Option Income: +$482.33
= ($4.83 * 100 shares) - $.67 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If 100 NVIDIA shares price unchanged at $217.73 on the Oct. 2nd, 2026 options expiration date): +0.00
+($217.73 stock closing price at expiration - $217.73 stock purchase price) * 100 shares; OR 

(c) Capital Appreciation (If 100 NVIDIA shares assigned at the $220.00 strike price at the 10/2/2026 options expiration): +$227.00
+($220.00 strike price - $217.73 stock purchase price) * 100 shares 

1. Total Net Profit Potential (If 100 NVIDIA shares price unchanged at $217.73 on the Oct. 2nd, 2026 options expiration date): +$482.33

= (+$482.33 option income + $0.00 dividend income + $0.00 capital appreciation)

2. Total Net Profit Potential (If 100 NVIDIA shares are in-the-money and therefore assigned at the $220.00 strike price at the options expiration date): +$709.33
= (+$482.33 option income + $0.00 dividend income + $227.00 capital appreciation)

1. Potential Absolute Return-on-Investment: (If 100 NVIDIA shares price unchanged at $217.73 on the Oct. 2nd, 2026 options expiration date): +2.3%
= +$482.33/$21,290.67
Potential Equivalent Annualized Return-on-Investment (If 100 NVIDIA shares price unchanged at $217.73 on the Oct. 2nd, 2026 options expiration date): +55.1%
= (+$482.33/$21,290.67) * (365/15 days)

2. Potential Absolute Return-on-Investment (If 100 NVIDIA shares are in-the-money and therefore assigned at the $220.00 strike price at the options expiration date): +3.3%
= +$709.33/$21,290.67
Potential Equivalent Annualized Return-on-Investment (If 100 NVIDIA shares are in-the-money and therefore assigned at the $220.00 strike price at the options expiration date): +81.1%
= (+$709.33/$21,290.67) * (365/15 days)

Closed Out Covered Call Position in NVIDIA Corporation

Last Friday, a Covered Call position in NVIDIA Corporation (ticker NVDA) closed out-of-the-money at $218.29 which was below its $220.00 strike price.  Today I decided to close out this position by selling the 100 NVDA shares when the market price was $215.88.

As detailed below, the return-on-investment results are: +1.3% absolute return (equivalent to +24.0% annualized return-on-investment) for the 20 days of this investment.

NVIDIA Corporation (NVDA) -- Closed Out this Covered Call Position

These Covered Call position transactions were as follows:
8/27/2026 Bought 100 NVIDIA Corporation shares at $222.88.

8/27/2026 Sold 1 NVIDIA 9/11/2026 $220.00 Call option @ $9.56 per share when the stock price was at $225.40. The Implied Volatility of the Call was 34.3 when this option was sold and the probability that the position will close in-the-money and therefore be assigned on the options expiration date was 62.6%.   
9/10/2026 Ex-dividend of $.25 per share

9/11/2026 NVIDIA's shares closed at $218.29 which was below the $220.00 strike price, so the Call option expired and 100 NVIDIA shares remained in the Covered Calls Advisor Portfolio.  

9/16/2026 Closed out this Covered Call position by selling the 100 NVIDIA shares at $215.88.

The overall performance result (including commissions) for this NVIDIA Corporation Covered Call position is as follows:
Covered Call Net Investment: $21,331.33
= ($222.88 - $9.56) * 100 shares + $.67 commission

Net Profit:
(a) Option Income: +$955.33
= ($9.56 * 100 shares) - $.67 commission
(b) Dividend Income: +$25.00 = $.25 per share x 100 shares
(c) Capital Appreciation: (100 shares sold at $215.88 per share): -$700.00
+($215.88 stock selling price - $222.88 stock purchase price) * 100 shares

Total Net Profit: +$280.33
= (+$955.33 option income + $25.00 dividend income - $700.00 capital appreciation)

Absolute Return-on-Investment: +1.3%
= +$280.33/$21,331.33
Annualized Return-on-Investment: +24.0%
= (+$280.33/$21,331.33) * (365/20 days)

Established Covered Calls in Newmont Corporation

Shortly before noon today and with the spot price of gold at $4288 per ounce, a short-term Covered Calls position at my net debit limit order price of $116.20 executed in Newmont Corporation (ticker symbol NEM) when 200 shares were purchased at $122.33 and 2 September 25th, 2026 Call options were sold at $6.13 per share at the $118.00 strike price.  The potential time value profit was $1.80 per share [$6.13 Call options premium - ($122.33 stock purchase price - $118.00 strike price)].  An in-the-money Covered Calls position was established with the probability of the stock closing in-the-money (and therefore being assigned) on the 9/25/2026 options expiration date was 67.9%.  

Newmont Corporation is the world's largest gold-mining company, with major operations in North America, South America, Africa, and Australia. Its portfolio is centered on gold, with added production of copper, silver, zinc, and lead as byproducts.  Newmont generates substantial free cash flow when gold prices are favorable, but its earnings are highly sensitive to gold prices, production costs, operating performance, and geopolitical risks.  For us investors, it is best viewed as a large-scale, diversified gold producer offering significant leverage to higher gold prices, but with considerably more commodity and operational risk than a typical large-cap technology company. 

As preferred, there is no quarterly earnings report prior to the options expiration date.  CFRA has a Strong Buy rating on Newmont and it also appeared on my Key Metrics for Comparing Companies stock screener by passing all criteria therein:

As detailed below, a potential return-on-investment result is: +1.5% absolute return (equivalent to +56.3% annualized return-on-investment for the next 10 days) if the stock is assigned on the Sept 25th, 2026 options expiration date.

Newmont Corporation (NEM) -- New Covered Calls Position
The buy/write transaction was:
9/15/2026 Bought 200 Newmont Corp shares @ $122.33.
9/15/2026 Sold 2 Newmont 9/25/2026 $118.00 Call options @ $6.13.
Note: the Implied Volatility of the Call options was 43.9% when this buy/write transaction was executed.  I like to sell Calls when their stock is oversold and the Implied Volatility moves higher.  With Newmont's RSI(2) at only 9.6, this is the case with this Covered Calls position.

A possible overall performance result (including commissions) for this Newmont Corporation Covered Calls position is as follows:
Covered Calls Cost Basis: $23,241.34
= ($122.33 - $6.13) * 200 shares + $1.34 commission

Net Profit Components:
(a) Options Income: +$1,224.66
= ($6.13 * 200 shares) - $1.34 commission
(b) Dividend Income: +$0.00

(c) Capital Appreciation (If shares assigned at the $118.00 strike price at the 9/25/2026 options expiration): -$866.00

+($118.00 - $122.33) * 200 shares

Total Net Profit (If Newmont Corp. shares assigned at $118.00 strike price at the Sept 25th, 2026 expiration): +$358.66

= (+$1,224.66 options income + $0.00 dividend income - $866.00 capital appreciation)

Potential Absolute Return-on-Investment: +1.5%

= +$358.66/$23,241.34

Potential Annualized Return-on-Investment: +56.3%

= (+$358.66/$23,241.34) * (365/10 days)

September 11th, 2026 Options Expiration Results

The Covered Calls Advisor Portfolio had three Covered Call positions with September 11th, 2026 options expirations.  Two positions (one in NVIDIA Corporation and one in SK hynix Inc. ADR) closed with their stock prices in-the-money.  So, their Calls expired with no remaining time value and the Covered Calls were closed out by the stocks being sold at their respective strike prices on their September 11th options expiration date.  A second position in NVIDIA with a $220.00 strike price closed yesterday out-of-the-money at $218.29, so the Call option expired and 100 shares now remain in the Covered Calls Advisor Portfolio.  The return-on-investment details for each position is as follows:

1. Nvidia Corporation (NVDA) -- +8.1% absolute return-on-investment (equivalent to +184.6% annualized return-on-investment) for the 16 days of this investment.  This NVIDIA Covered Call position had a $215.00 strike price and it closed at $218.29 yesterday.  The original blog post showing the details of this position is here (see the first NVIDIA position shown on this blog post). 

2. SK hynix Inc. ADR (SKHY) -- +3.0% absolute return-on-investment (equivalent to +73.1% annualized return-on-investment) for the 15 days of this investment.  This SK hynix Covered Calls position had a $150.00 strike price and it closed at $190.07 yesterday.  The original blog post showing the details of this position is here.

3. Nvidia Corporation (NVDA) -- This Covered Call position closed yesterday at $218.29 which was below its $220.00 strike price, so the Call option expired and 100 NVIDIA shares remain in the Covered Calls Advisor Portfolio.  Early next week I will either continue this Covered Call position by selling another Call against the 100 shares owned or sell the shares to close out the position.  The original blog post detailing this position is here (see the second NVIDIA position shown on this blog post). 

I look forward to receiving your emails with your questions/comments at the email address shown below on any topics related to the Covered Calls investing strategy. 

Jeff Partlow
The Covered Calls Advisor
partlow@cox.net

Covered Call Position Established in NVIDIA Corporation

A one-week in-the-money Covered Call position was established today with 30 minutes remaining before market close in NVIDIA Corporation (ticker NVDA).  My net buy/write limit order at $210.88 was executed when the stock price dropped to $218.53 per share and one hundred shares were purchased at that price and one September 18th, 2026 Call option was simultaneously sold at the $212.50 strike price at $7.65 per share, which provides a $1.62 per share = [$7.65 Call option premium received - ($218.53 stock purchase price - $212.50 option strike price)] time value profit potential. An in-the-money Covered Call position was established for this new position with the probability that NVIDIA's stock will close in-the-money on the 9/18/2026 options expiration date was 73.5% when this transaction was executed. 

As detailed below, a potential return-on-investment result is +0.8% absolute return-on-investment (equivalent to +39.9% annualized return-on-investment for the next 7 days) if NVIDIA's share price is in-the-money (i.e. above the $212.50 strike price) and therefore assigned on its September 18th, 2026 options expiration date.  

NVIDIA Corporation (NVDA) -- New Covered Call Position

Today's buy/write net limit order transaction was as follows:
9/11/2026 Bought 100 NVIDIA Corporation shares at $218.53.

9/11/2026 Sold 1 NVIDIA 9/18/2026 $212.50 Call option @ $7.65 per share.  The Implied Volatility of this Call option was 31.9 when this position was established.  

A possible overall performance result (including commissions) for this NVIDIA Corporation Covered Call position is as follows:
Covered Call Net Investment: $21,088.67
= ($218.53 - $7.65) * 100 shares + $.67 commission

Net Profit:
(a) Option Income: +$764.33
= ($7.65 * 100 shares) - $.67 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If 100 NVIDIA shares assigned at the $212.50 strike price at expiration): -$603.00
+($212.50 strike price - $218.53 stock purchase price) * 100 shares

Total Net Profit Potential (If 100 NVIDIA shares in-the-money and therefore assigned at the $212.50 strike price at the options expiration date): +$161.33
= (+$764.33 option income + $0.00 dividend income - $603.00 capital appreciation)

Potential Absolute Return-on-Investment: +0.8%
= +$161.33/$21,088.67
Potential Annualized Return-on-Investment: +39.9%
= (+$161.33/$21,088.67) * (365/7 days)

Covered Calls Position Established in Uber Technologies Inc.

This afternoon my buy/write net debit limit order was transacted and 400 shares of Uber Technologies Inc. (ticker symbol UBER) stock were purchased at $71.23 and 4 September 25th, 2026 $69.00 Call options were sold at $3.45 per share -- a net debit of $67.78 per share.  So, the potential time value profit if the stock is in-the-money and therefore closed out by assignment on the options expiration date is $1.22 per share [$3.45 Call options premium - ($71.23 stock purchase price - $69.00 strike price)]. The probability that the stock will be in-the-money and therefore assigned on its options expiration date was 66.3% when this order was transacted. As preferred, the next quarterly earnings report on November 3rd, 2026 is after the September 25th options expiration date.  

As detailed below, a potential outcome for this Uber Technologies investment is +1.8% absolute return-on-investment for the next 16 days (equivalent to +40.8% annualized-return-on-investment) if the stock closes above the $69.00 strike price on the September 25th, 2026 options expiration date.

Uber Technologies Inc. (UBER) -- New Covered Calls Position

The net debit buy/write limit order was executed as follows:
9/9/2026 Bought 400 shares of Uber Technologies Inc. stock @ $71.23 per share.  
9/9/2026 Sold 4 Uber Sept 25th, 2026 $69.00 Call options @ $3.45 per share.
Note: this was a simultaneous Buy/Write transaction and the Implied Volatility of the Calls was 35.4 when this position was established which, as preferred, is well above the current VIX of 16.3.  

A possible overall performance result (including commissions) if this position is assigned on its 9/25/2026 options expiration date is as follows:
Covered Calls Net Investment: $27,114.68
= ($71.23 - $3.45) * 400 shares + $2.68 commission

Net Profit Components:
(a) Options Income: +$1,377.32
= ($3.45 * 400 shares) - $2.68 commission
(b) Dividend Income: +$0.00
(c) Capital Appreciation (If Uber stock is above the $69.00 strike price at the 9/25/2026 options expiration date): -$892.00
= ($69.00 - $71.23) * 300 shares

Potential Total Net Profit (If assigned at expiration): +$485.32
= (+$1,377.32 options income + $0.00 dividend income - $892.00 capital appreciation)

Potential Absolute Return-on-Investment: +1.8%
= +$485.32/$27,114.68
Potential Equivalent Annualized-Return-on-Investment: +40.8%
= (+$485.32/$27,114.68) * (365/16 days)

Covered Call Position Established in Alphabet Inc.

A new short-term Covered Call net debit buy/write limit order was transacted shortly after market open today in Alphabet Inc. (ticker GOOGL) for the September 18th, 2026 expiration and at the $320.00 strike price.  The order was placed at a $316.68 limit price, so the extrinsic value (which represents the maximum profit potential for this position) was $3.32 per share [$12.79 Call option premium - ($329.47 stock purchase price - $320.00 strike price)].  The probability that this position will be in-the-money and therefore assigned on its options expiration date was 69.2% when this order was transacted.

As detailed below, the potential return-on-investment result is +1.0% absolute return-on-investment in 9 days (equivalent to a +42.4% annualized return-on-investment).  

Alphabet Inc. (GOOGL) -- New Covered Call Position

The simultaneous buy/write transaction was as follows:
9/9/2026 Bought 100 shares of Alphabet Inc. stock @ $329.47 per share.  
9/9/2026 Sold 1 Alphabet Inc. September 18th $320.00 Call option @ $12.79 per share.
Note: The Implied Volatility of the Call option was approximately 34.5 when this transaction was executed which, as I prefer, is well above the current 16.1 of the S&P 500 Volatility Index (i.e. VIX). 

A possible overall performance result (including commissions) would be as follows:
Covered Call Cost Basis: $31,668.67
= ($329.47 - $12.79) * 100 shares + $.67 commission

Net Profit Components:
(a) Option Income: +$1,278.33
= ($12.79 * 100 shares) - $.67
(b) Dividend Income: +$0.00 
(c) Capital Appreciation (If Alphabet stock is above $320.00 strike price at the 9/18/2026 options expiration date): -$947.00
= ($320.00 strike price - $329.47 stock purchase price) * 100 shares

Total Net Profit Potential: +$331.33
= (+$1,278.33 option income +$0.00 dividend income - $947.00 capital appreciation)

Potential Absolute Return-on-Investment: +1.0%
= +$331.33/$31,668.67
Potential Equivalent Annualized Return-on-Investment: +42.4%
= (+$331.33/$31,668.67) * (365/9 days)

September 4th, 2026 Options Expiration Results

The Covered Calls Advisor Portfolio had two Covered Call positions with September 4th, 2026 options expirations and both positions (NVIDIA Corporation and T-Mobile US, Inc.) were assigned yesterday so the Call options expired and both Covered Call positions were closed out by selling the stocks at their respective strike prices.  The return-on-investment summary for each position is as follows:

1. Nvidia Corporation (NVDA) -- +1.6% absolute return-on-investment (equivalent to +59.2% annualized return-on-investment) for the 10 days of this investment.  This NVIDIA Covered Call position had a $200.00 strike price and it closed in-the-money at $230.36 yesterday.  The original blog post showing the details of this position is here. 

2. T-Mobile US, Inc. (TMUS) -- +1.7% absolute return-on-investment (equivalent to +41.6% annualized return-on-investment) for the 15 days of this investment.  This T-Mobile Covered Call position had a $175.00 strike price and it closed in-the-money at $181.52 yesterday.  The original blog post showing the details of this position is here.

Send your questions/comments to the email address shown below on any topics related to the Covered Calls investing strategy.  As always, any new positions I establish will continue to be posted on this blog site when they occur.  

Jeff Partlow
The Covered Calls Advisor
partlow@cox.net