If you already own 100 shares
Income call
For income on GLW you already hold: sell the Oct 2 $180 call and take $120 now. If GLW climbs to $180 by Oct 2, your 100 shares are sold at $180, so only do it if you're happy selling there.
If it climbs past $180 your 100 shares are sold at $180 and you keep the $120. That is the trade working, not a loss.
The call order
ActionSell to open
ContractGLW Oct 2 $180 call
You get$120 (limit about $1.20)
If it climbsYour 100 shares sell at $180
Chance your shares are soldabout 15 in 100
After removing the trend-17% a year