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

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	NEW TRADE ALERT
	Tuesday, March 3, 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
	$445.96		1	0.97%	355.86%
	The trade results and did it meet expectations?
	FINAL RESULT = CCW profit, but shares are underwater now :/ ... playing 3M (MMM) for a nice 30 day trade ... the idea WAS to let this go to expiration ... but as the markets tanked so did MMM and the CCW premium I got paid ... and typically when an option falls 50% in the first week, I buy back the option and look for another opportunity ... well, thats what happened here ... the stock fell, the option fell from $2.55 > $1.06 ... more then half, bought back the option, we move on. ... hoping to weather this storm and can write a CC on MMM when we get a green day or 2
	ORIGINAL TRADE BREAKDOWN
	DATE	COMPANY	SYMBOL	SHARES	STOCK WAS
	Mar-2	3M Corp.	MMM	300	$152.47
	STRIKE	EXPIRATION	PREMIUM RECV	CONTRACTS	CoC % ROO
	$162.50	Apr-3	$2.55	3	0.97%
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	$152.47			$445.96
	PREMIUM RECV	BUY BACK PRICE	REAL $ ?	DIFFERENCE / TV $	CoC% GAIN
	$2.55	$1.06	$0.00	$3.02	N/A
	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
	Covered Call - Description - A covered call is a financial market transaction in which the seller of call options owns the corresponding amount of the underlying instrument, such as shares of a stock or other securities. ... writing (i.e. selling) a call generates income in the form of the premium paid by the option buyer. Source - https://en.wikipedia.org/wiki/Covered_call
	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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