NEW UCPTD Trade Alert - Option Buy Back - MMM - Covered Call

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	NEW TRADE ALERT
	Friday, February 28, 2020
	Covered Call Option Buy Back
	Closed a Covered Call position with 3M Corp. (MMM) this week
ORIGINAL TRADE	TRADE KRUM! (see details below)		DAYS	Cash on Cash %	Annualized
	$322.96		7	0.91%	47.22%
	Brief Description of WHY I did this trade and my expectations for it
	3M got pounded after earnings and when the option fell from $1.90 to 0.28 I bought it back hoping it will settle... hopefully sooner than later but with the original trade off the books I will look to make another trade ... notice, no dividend capture YET ... this is just a classic buy back when the option falls this much ... think of it this way... with over 1 month to go I can only make another 0.28 cents ... so take it off the board, let the stock settle and maybe move higher, then do another more profiable trade (crossing fingers of course)
	ORIGINAL TRADE BREAKDOWN
	DATE	COMPANY	SYMBOL	SHARES	STOCK WAS
	Jan-22	3M Corp.	MMM	200	$178.32
	CCW STRIKE	EXPIRATION	PREMIUM RECV	CONTRACTS	CoC % ROO
	$187.50	Feb-28	$1.90	2	6.21%
BUY BACK	WHY DID I BUY THIS OPTION BACK?
	read above on this one
	RESULTS FROM THE OPTION BUY BACK
	SYMBOL	WHEN STOCK WAS TRADING @			CASH PROFIT
	MMM	65.88			$322.96
	PREMIUM RECV	BUY BACK PRICE	REAL $ ?	DIFFERENCE / TV $	CoC% GAIN
	$1.90	$0.28	$0.00	$0.28	0.91%
	Always look at a company's chart ... it tells a story and that story could be UP or DOWN

	Education Corner
	Great Covered Call video posted at
	Cash Secured Put - Description -The cash-secured put involves writing an at-the-money or out-of-the-money put option and simultaneously setting aside enough cash to buy the stock. The goal is to be assigned and acquire the stock below today's market price. Whether or not the put is assigned, all outcomes are presumably acceptable. The premium income will help the net results in any event. The investor is bullish on the underlying stock and hopes for a temporary downturn in its price. If the stock drops below the strike, the put may be assigned. That would allow the put writer to buy the stock at the strike price. The effective purchase would be even lower: strike price less the premium received. There are two principal risks. First, the stock might not only dip but plummet well below the strike price. The investor must be comfortable with the strike price as an acceptable long-term acquisition price, no matter how low the market goes. Source - https://www.optionseducation.org/strategies/all-strategies/cash-secured-put
	Disclaimer - Yes - at the time of this posting I do have a position in this equity. By posting this I am by no means recommending this equity and am not front running for its performance. I have risked my own money and am accountable for the trade results.
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