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

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	NEW TRADE ALERT
	Monday, May 11, 2020
	Standard Covered Call Strategy
					3x ETF
	Closed a position with UPRO (UPRO) this week
ORIGINAL TRADE	TRADE KRUM! (see details below)		DAYS	Cash on Cash %	Annualized
	$323.96		32	1.85%	N/A
	The trade results and did it meet expectations?
	OK, I HAVE A PLAN ... might not work out for me but I have a plan nonetheless ... so UPRO at the time I bought back this option ... THIS option was trading for $3.20 ... it ONLY HAD 0.36 cents of time value, expiring this Friday. YES, UPRO will probably close ABOVE my strike of $36 so my shares will be taken ... but I BOUGHT BACK this option because I have BIGGER ideas ... I'm going to pocket this meager $323 bucks as a profit ... BUT I'm going to now BUY 500 MORE shares and will write another CC on UPRO playing the game ... I know I NEVER BUY BACK adding to my cost basis (meaning I always sell the shares) but in the case I didn't add to my CB so I feel I can really work this for the next 30 days ... more to come as I BUY more shares and write that next call ... as for now, only the buy back has happened.
	ORIGINAL TRADE BREAKDOWN
	DATE	COMPANY	SYMBOL	SHARES	STOCK WAS
	Apr-14	UPRO	UPRO	500	$34.95
	STRIKE	EXPIRATION	PREMIUM RECV	CONTRACTS	CoC % ROO
	$36.00	May-15	$3.90	5	1.85%
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
	UPRO	$34.95			$323.96
	PREMIUM RECV	BUY BACK PRICE	REAL $ ?	DIFFERENCE / TV $	CoC% GAIN
	$3.90	$3.25	$0.00		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.
	Image credits - stockcharts.com | barchart.com | foolcdn.com | yahoo.com | earningswhispers.com
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