NEW UCPTD Trade Alert - MMM - CCW Buy Back + CCW

All rights reserved - Core Position Trading, LLC - 2020
	NEW TRADE ALERT
Closed a Covered Call position prior to Expiration (profit)
DISCLAIMER: This trade is based on this date. I'm not suggesting a move up or down. I'm showing my trade that I have already done. I'm not recommending this stock as a purchase/trade. Think of it like this, I'm 'Showing you the World thru my Eyes'.
Closed a Covered Call position prior to expiration
3M Corp.
TIME AND DATE STAMP | .		May 20, 2020
My brief explanation why I ended this trade early
Well, I'm gonna break a John Golden Rule in the hopes that 3M trades sideways to higher over the next 30 days ... see, had I not bought back this $140 May 29 expiration ... with 3M trading ABOVE my strike and with its BIG $1.47 dividend being on record tonight ... my shares would have been taken ... and I just didn't want that to happen so I ran the numbers in my CPT BUYBACK Calc (will post the link below) and as it would turn out, I can ROLL FOR A CREDIT ... just have to hope I'm not left holding THE BAG if MMM falls ... because ADDING over +$7 to my cost basis would SUCK if that happens and I have to close this trade at a loss... wish me luck. I posted both the original trade, the buy back and the new out of the money covered call trade in the screen shot below ... I ended up getting for a 30 day trade, $2.10 CC Premium and will collect the $1.47 per share dividend because I will be holding the stock thru tonight's ex-date ... that dividend better have beem worth it  :)  Be Safe!

> If you want your very own copy of this CPT BuyBack Calcuator go to my web site, FREE Spreadsheets and download > Watch the How To Use Video ... I know the risks ... gonna go for it!

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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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