I bought 400 shares of ACHR at $7 right before it dipped to low $6 territory. roughly at -$380.
My intent is to hold this, or at least breakeven. That being said, I started looking for ways to trade options on this position. Something very basic, because most option trades are above my pay grade. This led me to the Covered Call.
I did research, and then asked ChatGPT to translate the trade for Robinhood's user interface. I set my strike at $7, date 30 days, set the ask to 24 cents, and sent it.
Now, I'm confused by Robinhood's interface again.
Why is the market value -$88?
Why am I showing a daily return when my initial premium of $96 is all that I should be getting?
Why is my breakeven price higher than my strike price?
Thanks in advance
https://preview.redd.it/h7aj6gsnmjlh1.png?width=1597&format=png&auto=webp&s=80bac72e2a0cb4054ada57b082358ecf1263d6e7