If you already own 100 shares
Income call
For income on AMP you already hold: sell the Oct 16 $590 call and take $470 now. If AMP climbs to $590 by Oct 16, your 100 shares are sold at $590, so only do it if you're happy selling there.
If it climbs past $590 your 100 shares are sold at $590 and you keep the $470. That is the trade working, not a loss.
The call order
ActionSell to open
ContractAMP Oct 16 $590 call
You get$470 (limit about $4.70)
If it climbsYour 100 shares sell at $590
Chance your shares are soldabout 20 in 100
After removing the trend-16% a year