NEW UCPTD Trade Alert - UPRO - Covered Call

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NEW TRADE ALERT
Thursday, May 14, 2020
Standard Covered Call Strategy
				UPRO
Opened a Weekly Covered Call trade on
TRADE KRUM! (see details below)		DAYS	Cash on Cash %	Annualized
$373.96		1	0.74%	271.23%
Brief Description of WHY I did this trade and my expectations for it
Were back at it with this 1 day CCW collecting a 0.25 credit ... but it turns out to be ONLY a 0.15 credit in my mind as earlier this week I did a CCW for 0.85 and when the markets fell, I bought back the option for 0.10 ... so for me, the NET EFFECT is 0.75 + 0.15 = 0.90 cents x 1,500 shares for my first week of using UPRO weekly ... rolling Up and Down ... the idea is simple, use my SKILL to keep getting CREDITS! This expires tomorrow. NOTICE > I'M DANCING WITH THE DEVIL as in this STRIKE is UNDER my stock purchase price ... so I will HAVE to BUY BACK the option should UPRO end Fridays trading ABOVE the Strike ... otherwise we let expire, we repeat and rinse :)
Trade Breakdown with the BUY BACK Calc
COMPANY	SYMBOL	SHARES	STOCK PRICE	STRIKE
UPRO	UPRO	1500	$35.50	$35.50
PREMIUM RECV	BUY BACK PRICE	DIFFERENCE	CASH PROFIT	CoC% GAIN
$0.25	$0.00	$0.25	$375.00	N/A
Always look at a companies 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 preformance. I have risked my own money and am accountable for the trade results.
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