NEW UCPTD Trade Alert - UPRO - Covered Call

All rights reserved - Core Position Trading, LLC - 2020
	NEW TRADE ALERT
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 | .		Wednesday, July 22, 2020
Brief Description of WHY I did this trade and my expectations for it
UPRO ITM Covered Call ... that's right i... with the BIG GUNS announcing earnings starting tonight I did the math on a 9 day, ITM $50.50 on UPRO getting $3.10 for my shares ... here's the deal, if the markets like the news, UPRO goes higher, I collect the difference between giving my shares away under my stock purchase price of $52.40 @ $50.50 and the $3.10 Premium ... leaves me with a very tidy 9 day Krum of $1,190 ... should UPRO fall ... all of that $3.10 will be good downside protection ... we can manage the rest from there ... hopefully the markets mov higher and higher ... this trade really does play for a possible SELL THE NEWS moment tomorrow.
Trade Breakdown with the BUY BACK Calc
COMPANY	SYMBOL	SHARES	STOCK PRICE	STRIKE
UPRO	UPRO	1000	$52.40	$50.50
PREMIUM RECV	BUY BACK PRICE	DIFFERENCE	CASH PROFIT	CoC% GAIN
$3.10	$0.00	$3.10	$1,204.00	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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