If you already own 100 shares
Income call
For income on SOXX you already hold: sell the Oct 30 $650 call and take $480 now. If SOXX climbs to $650 by Oct 30, your 100 shares are sold at $650, so only do it if you're happy selling there.
If it climbs past $650 your 100 shares are sold at $650 and you keep the $480. That is the trade working, not a loss.
The call order
ActionSell to open
ContractSOXX Oct 30 $650 call
You get$480 (limit about $4.80)
If it climbsYour 100 shares sell at $650
Chance your shares are soldabout 15 in 100
After removing the trend-10% a year