Continuation of Covered Call Position in Alphabet Inc.

The Covered Calls Advisor Portfolio has a Covered Call position in Alphabet Inc. (ticker GOOGL) with 100 shares which expired on Oct. 23rd with the stock at $320.21 which was below the $340.00 strike price. Alphabet's stock had a huge decline to the low $280s when it missed earnings expectations when it reported its quarterly earnings on October 28th. Today this position was continued by rolling down-and-out to the November 20th, 2026 options expiration date at the $300.00 strike price by selling-to-open one NVDA Call at $6.51 per share when Alphabet's stock price was $295.90.   

Alphabet Inc. (GOOGL) -- Continuation of Covered Call Position

The simultaneous buy/write transaction was as follows:
10/14/2026 Bought 100 shares of Alphabet Inc. stock @ $347.53 per share.  
10/14/2026 Sold 1 Alphabet Inc. October 23rd $340.00 Call option @ $11.71 per share.
Note: The Implied Volatility of the Call option was approximately 33.0 when this transaction was executed which, as I prefer, is well above the current 17.2 of the S&P 500 Volatility Index (i.e. VIX). 
10/23/2026 Alphabet stock closed out-of-the-money today at $320.21, so the Call option expired and the 100 GOOGL shares remain in the Covered Calls Advisor Portfolio.

11/4/2026 Continued Covered Call position by selling 1 GOOGL November 20th, 2026 $300 Call option at $6.51 per share when the stock price was $295.90.

A possible overall performance result (including commissions) if the stock is in-the-money on its options expiration date would be as follows:
Covered Call Cost Basis: $33,582.67
= ($347.53 - $11.71) * 100 shares + $.67 commission

Net Profit Components:
(a) Option Income: +$1,820.66
= ($11.71 + $6.51) * 100 shares) - $1.34
(b) Dividend Income: +$0.00 
(c) Capital Appreciation (If Alphabet stock is above $300.00 strike price at the 11/20/2026 options expiration date): -$4,753.00
= ($300.00 strike price at options expiration - $347.53 stock purchase price) * 100 shares

Total Net Loss Potential: -$2,932.34
= (+$1,820.66 option income + $0.00 dividend income - $4,753.00 capital appreciation)

Potential Absolute Return-on-Investment: -8.7%
= -$2,932.34/$33,582.67
Potential Equivalent Annualized Return-on-Investment: -86.1%
= (-$2,932.34/$33,582.67) * (365/37 days)