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For every penny over the $76 level the stock trades whatever is lost in the $75 call option you sold is offset from the gain associated with $76 call option acquired.
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It suggests that if you had been to buy stock, 100 shares at $50 would cost you $5,000 entirety. By using options, you can control the same 100 shares for just a few $ 100. When the stock moves in your direction, your profits can be huge.
So a little quick math assuming performing this invest 10 option contracts. Your profit over 31 days is $410. Your maximum risk is $590. Simply the breakeven price $75.42 without the presence of option you keep $76 - then multiplied by 100 for every option policy.
If the stock trades between $75 and $75.41, you've made some money - and at $75.41 you break even. But like anything your market market this trade isn't without risk. If the XLE trades between $75.42 and $76 you lose some monetary gain. But get this. Anyone own the $76 call option, your losses are restricted.