Covered Call LEAPS Strategy on Bloom Energy (BE) – Am I Crazy or Is This Solid?

I’ve been thinking through a longer-term income + upside strategy and wanted to get this sub’s take before I put real money behind it.

**The trade I’m considering:**

* Buy **1,000 shares of Bloom Energy (BE)** at \~$**250/share**
* Total cost: **\~$250,000**
* Sell **10 covered call contracts (fully covered)**
* Expiration: **June 2028**
* Strike: **$480**
* Premium: **\~$100 per share ($10,000 per contract / $100,000 total)**

**What this looks like mechanically:**

* I collect **$100,000 upfront in premium**
* That effectively lowers my net cost basis from:
* $250 → **$150 per share**

If BE is above $480 by June 2028:

* Shares get called away at $480
* Profit per share:
* $480 - $250 = **$230 stock gain**
* $100 premium
* = **$330 total gain per share**
* Total max profit:
* **$330,000 on $250,000 capital (\~132%)**