The ultimate goal behind building this position has always been straightforward: to accumulate enough shares of Barrick Mining Company in order to sell covered calls in a disciplined and controlled way. Rather than rushing into options, the emphasis has been on understanding the mechanics, managing position size, and ensuring comfort with owning the underlying stock. This step-by-step approach reinforces the idea that options strategies begin with preparation and patience, not prediction.
With the most recent purchase, the position in Barrick has reached 100 shares, completing the share requirement needed to write one standard covered call contract. The final shares were purchased at $47.23 per share, reflecting the fact that Barrick’s stock price had continued to increase during the accumulation period. While this resulted in a higher average cost than earlier purchases, the decision was made to complete the position in order to move forward with the covered call strategy as planned. This step reinforces the idea that the focus remains on executing the process consistently, rather than attempting to optimize every entry price. Reaching this point represents a planned milestone rather than an endpoint, marking the transition from position building to strategy execution. The shares were accumulated intentionally over time, allowing for thoughtful entries and clear documentation at each stage of the process.
The next step is to sell a covered call against the 100-share position, selecting a strike price and expiration that align with defined expectations and risk tolerance. This phase will focus on evaluating option premiums, understanding potential assignment scenarios, and documenting how the trade behaves over time. As with every step so far, the process will be recorded in detail to support learning, review, and refinement as the strategy continues to develop.