The overall objective remains straightforward: accumulating 100 shares in order to sell one covered call, using a strategy that prioritizes structure and risk awareness. By owning the underlying shares, the obligation created by the call option is fully covered, which helps limit exposure compared to uncovered option strategies. This approach allows for the collection of option premium while maintaining clear expectations around potential outcomes, reinforcing the idea that the position is being built deliberately as part of a learning process rather than a speculative trade.
Adding 25 more shares of Barrick Mining brought the total position to 75 shares, moving closer to the 100 shares needed to begin selling covered calls. The additional purchase was made with the intent of rounding into a full position that aligns with the trading plan for generating income through defined-risk option strategies. Each incremental buy was considered not only in terms of price but within the broader context of my ongoing trade documentation and learning process, emphasizing patience and structured accumulation rather than timing short-term moves.
The decision to continue building the Barrick position is supported by a broader bullish backdrop for gold and gold mining stocks. Precious metals have remained strong as investors seek safe-haven assets amid macroeconomic uncertainty, with gold showing significant gains and attracting sustained demand from both market participants and central banks. These conditions help reinforce confidence in a long-term outlook for mining equities like Barrick, which benefit from higher realized gold prices and strong free cash flow generation as part of a disciplined trading and income strategy.