NEW UCPTD Trade Alert - UPRO - Covered Call

All rights reserved - Core Position Trading, LLC - 2020
	NEW TRADE ALERT
Covered Call Trade opened using a Standard Covered Call Strategy
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'.
NEW Covered Call position was opened on
UPRO
TIME AND DATE STAMP | .		Monday, June 29, 2020
Brief Description of WHY I did this trade and my expectations for it
Weekly $1,000 challenge ... well, if I'm going to get anything I need to get this down ... did the (3 1/2 day, basically time left in this week) $44.50 and tried like hell to get 0.50 per share but as I've found with UPRO ... traders DO NOT come off the BID ... made me sit and sit and sit ... finally I just took ratchet down from the 0.50 and went for the 0.45 MID and sure enough UPRO popped just enough, they took the order and here we are ... playing a CCW strike some $2 UNDER my stock purchase price ... nothing new for me ... it's just never an easy feeling knowing 3 1/2 days it expires ... if UPRO rallys, we will look to buy back higher and rolling for a credit ... we will see.
Trade Breakdown with the BUY BACK Calc
COMPANY	SYMBOL	SHARES	STOCK PRICE	STRIKE
UPRO	UPRO	1000	$44.50	$44.50
PREMIUM RECV	BUY BACK PRICE	DIFFERENCE	CASH PROFIT	CoC% GAIN
$0.45	$0.00	$0.45	$450.00	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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