Option Writing Journal

The Option Writing Journal is the place to enter all your covered call. You can access the journal by going to the top menu under Trading Journal > Manage your trades > Option > Add, edit, or delete your option writing.

In this post you will learn:

How to enter a covered call
How is the realized PnL calculated?
How to filter by status or ticker
How to delete a covered call
How to get more help

How to enter a covered call #

To enter a covered call, follow these mandatory steps:

Enter the contract name.
Select whether it’s a Covered Call (Sell) or Covered Call (Buy to Close).
Select the stock—you will only see stocks for which you own at least 100 shares in your Stock Spot Journal.
Enter the transaction date.
Enter the Premium Per Share you will receive.
Enter the number of contracts.
Select the option outcome: Choose between “Active,” “Expired,” “Exercised,” or “Bought Back.”

If “Exercised” is selected in the option outcome, you will be informed that a trade will be added to the Stock Spot Journal. The trade will involve 100 shares multiplied by the number of contracts for that stock at the strike price. You can always go back and update the trade in the Stock Spot Journal.

How is the realized PnL calculated #

The realized PnL is calculated by taking the Premium Per Share multiplied by 100 shares and then multiplied by the number of contracts.

The Total PnL Value is calculated by subtracting any buy-back costs and fees from the total Premium received. It will be added to the total in the Option Dashboard under Total Capital.

How to filter by status or ticker #

If you wish to see only the covered call that are still active, you can use the “Filter By” option at the top and select the status “Active.”

How to delete a writing #

To delete a covered call, select the row number from the dropdown under “Delete Writing.” Once selected, it will delete the selected row in the Crypto Writing Journal.