Covered Calls: Income on Your Shares
The same covered call at entry, the SPY peak, the dip, and the final sessiontable ·
2026-07-16 · 4×5
Buy-and-hold SPY vs the covered call, per-share value over 7 weeksseries ·
2026-07-16 · 31×3
The $740 call you sold, daily value over its 7-week lifeseries ·
2026-07-16 · 31×2
Buying and Selling Call Options
One SPY $740 call, daily close over its 7-week lifeseries ·
2026-07-16 · 31×2
The same call at four exits: price, multiple of premium, and P&L per contracttable ·
2026-07-16 · 4×5
SPY vs the call, both indexed to 100 on May 1series ·
2026-07-16 · 31×3
The same covered call at entry, the SPY peak, the dip, and the final session
The same covered call at entry, the SPY peak, the dip, and the final session
| stage | spy_price | call_value | moneyness | covered_value |
|---|---|---|---|---|
| 1. Sold the call (May 1) | 720 | 7.22 | below 740 strike | 720 |
| 2. SPY peak (Jun 2) | 759.63 | 23.5 | above 740 strike | 743.35 |
| 3. SPY dip (Jun 10) | 722.88 | 3.17 | below 740 strike | 726.93 |
| 4. Final session (Jun 15) | 753.91 | 15.41 | above 740 strike | 745.72 |
the exact SQL behind every number
WITH prem AS (
SELECT avg(option_close) AS p
FROM global_markets.options_greeks
WHERE ticker = 'O:SPY260618C00740000' AND date = '2026-05-01' AND implied_volatility > 0.02
)
SELECT multiIf(g.date = '2026-05-01', '1. Sold the call (May 1)',
g.date = '2026-06-02', '2. SPY peak (Jun 2)',
g.date = '2026-06-10', '3. SPY dip (Jun 10)', '4. Final session (Jun 15)') AS stage,
round(avg(g.underlying_close), 2) AS spy_price,
round(avg(g.option_close), 2) AS call_value,
if(avg(g.underlying_close) > 740, 'above 740 strike', 'below 740 strike') AS moneyness,
round(avg(g.underlying_close) + any(prem.p) - avg(g.option_close), 2) AS covered_value
FROM global_markets.options_greeks g, prem
WHERE g.ticker = 'O:SPY260618C00740000'
AND g.date IN ('2026-05-01', '2026-06-02', '2026-06-10', '2026-06-15')
AND g.implied_volatility > 0.02
GROUP BY g.date ORDER BY g.date
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