@Kingran I explained it (calendar spreads, bull call spreads, covered calls, etc) in great detail in the previous post about a similar trade with a similar spreadsheet (for BRKB instead of BAC).
See here - 15 year BRK PBV Chart - #7 by MarkR
The big (huge!) mistake in the spreadsheet is assuming that the buyer of the covered call will never exercise the option they purchased. Every line below ‘40’ in the second chart is therefore incorrect. I explained that as well in the earlier series of comments on the other post.