Both long the underlying and short a call. The sale of a call by investors who own the underlying is a common strategy and is used to enhance their return on investment. In the Trade Finder this strategy is short option (covered) using calls only.
A covered call (sometimes known as a 'covered write') is an options strategy in which the seller owns the underlying security. An investor constructs a covered call strategy by buying a security and selling a call option on the same security (and so receiving a premium). The strategy is often used to enhance the yield on a security held by an investor, in circumstances where you expect a short-term fall in the securities value but you still believe in its long term prospects and want to continue holding it.
A call option sold by someone who owns the underlying asset.