If you already own 100 shares
Income call
For income on POWI you already hold: sell the Oct 16 $60 call and take $50 now. If POWI climbs to $60 by Oct 16, your 100 shares are sold at $60, so only do it if you're happy selling there.
If it climbs past $60 your 100 shares are sold at $60 and you keep the $50. That is the trade working, not a loss.
The call order
ActionSell to open
ContractPOWI Oct 16 $60 call
You get$50 (limit about $0.50)
If it climbsYour 100 shares sell at $60
Chance your shares are soldabout 13 in 100
After removing the trend-23% a year