If you already own 100 shares
Income call
For income on THC you already hold: sell the Oct 16 $290 call and take $242 now. If THC climbs to $290 by Oct 16, your 100 shares are sold at $290, so only do it if you're happy selling there.
If it climbs past $290 your 100 shares are sold at $290 and you keep the $242. That is the trade working, not a loss.
The call order
ActionSell to open
ContractTHC Oct 16 $290 call
You get$242 (limit about $2.42)
If it climbsYour 100 shares sell at $290
Chance your shares are soldabout 18 in 100
After removing the trend-28% a year