Suppose that it is 9/15/2022 and that you own 600 shares of XYZs common stock. You do not believe that XYZs common stock will perform all that well, so you are considering writing an equivalent number of covered calls using the December 2022, X = 55 call option. Explain your potential gains and losses (in dollar terms) from following this strategy. Assume you dont know the prices from 11/15/2022.

\begin{tabular}{cclrrrrr} XYZ & & & \multicolumn{2}{c}{ Call - } & \multicolumn{2}{c}{ - Put - } & \multicolumn{2}{c}{ Date of } \\ Price & Strike & Expiration & Volume & Price & Volume & Price & Quotation \\ \hline 52.65 & 55.00 & Dec 2022 & 9923 & 2.28 & 2632 & 4.35 & 9/15/2022 \\ 52.65 & 55.00 & Mar 2023 & 307 & 3.68 & 108 & 5.48 & 9/15/2022 \\ 52.65 & 60.00 & Dec 2022 & 4578 & 0.94 & 1875 & 7.99 & 9/15/2022 \\ 52.65 & 60.00 & Mar 2023 & 212 & 2.10 & 76 & 8.85 & 9/15/2022 \\ & & & & & & & \\ 56.90 & 55.00 & Dec 2022 & 1282 & 3.09 & 1279 & 1.10 & 11/15/2022 \\ 56.90 & 55.00 & Mar 2023 & 3645 & 5.09 & 2856 & 2.82 & 11/15/2022 \\ 56.90 & 60.00 & Dec 2022 & 468 & 0.86 & 156 & 3.86 & 11/15/2022 \\ 56.90 & 60.00 & Mar 2023 & 2986 & 2.81 & 1874 & 5.51 & 11/15/2022 \end{tabular}