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 | NEW PMCC TRADE | |||
| Covered Call Trade opened using a Standard Covered Call (~30d) | ||||
| NEW Poor Man's Covered Call position was opened on | ||||
| TIME AND DATE STAMP | Wednesday, January 5, 2022 | |||
Bristol Myers |  | |||
| 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'. | ||||
| This (30) day trade begins and ends for the dates below | ||||
| 30 | January 5, 2022 | February 4, 2022 | ||
| Details of this 30 Day CCW / ~30 DELTA Strike | $102.00 | |||
| EXPIRATION DATE | CONTRACTS | STRIKE | PREMIUM | CASH PROFIT |
| Feb-4 | $2.00 | $65.00 | $0.51 | $102.00 |
| PMMC - BMY is moving into the mid 60's as I thought it would ... with its dividend increase and stock buy back ... the stock should continue to trend higher as the market moves higher ... this 21 Delta Feb-4th strike will give me a chance to manage the trade should the stock challenge this $65 strike. | ||||
| DAYS | 30 | DELTA | 0.21 |  |
| DETAILS [ LEAP PURCHASE + ALL CCW PROFITS/LOSSES] | ||||
| TRADES | INVESTED | MADE | Cash on Cash % | |
4 | -$2,500.00 | $363.00 | 14.52% | |
| Details LEAP Call option I'm using for this PMCC | -$2,500.00 | |||
| SYMBOL | LEAP | STRIKE | PAID | INVESTMENT |
| BMY | Jan2023 | $52.50 | $12.50 | |
| PMMC - After earnings in April, BMY tanked, picked up this 0.80 DELTA $52.50 LEAP for $12.50 | ||||
| CONTRACTS | 2 | DELTA | 0.81 | |
| PMCC Golden Rule - BUY the ~80 or greater DELTA | ||||
| How is the LEAP Call Option preforming at this moment | ||||
| As of this post, this is the MID PRICE VALUE for my LEAP Call Option | ||||
| WHAT I PAID | CURRENT MID PRICE | .+/- % | ||
| $12.50 | $10.75 | -14.00% | ||
| NOTE: THIS IS NOT FACTORED INTO ANY CALCULATIONS ... just showing | -$175.00 | |||
| How have I done with all trades using this LEAP? | $363.00 | |||
| DATE | CONTRACTS | STRIKE | PREMIUM | CASH PROFIT |
| Jul-27 | 2 | $70.00 | $0.58 | $116.00 |
| Trade is CLOSED - With Bristol stock really moving and my CCW going from 0.85 to 0.29 with about a month to go ... we collect almost 0.60 and can now push out my expire date and do another 30 DELTA CCW ... rolling rolling rolling. | ||||
| Dec-16 | 1 | $64.00 | $0.85 | $85.00 |
| WHY I CLOSED this PMCC CCW Trade Early - BMY wasn't moving much and when the option fell below -50% I decided to buy back and seek another trade. | ||||
| Dec-16 | 1 | $64.00 | $0.60 | $60.00 |
| WHY I CLOSED this PMCC CCW Trade Early - BMY is moving, +0.75 and with this being a Jan-14 expire and only a $1 from my Strike ... I buy back this option for a profit (granted not as much as I first thought) but will ROLL higher for more. | ||||
| Jan-5 | 2 | $65.00 | $0.51 | $102.00 |
| WHY I CLOSED this PMCC CCW Trade Early - BMY is moving, +0.75 and with this being a Jan-14 expire and only a $1 from my Strike ... I buy back this option for a profit (granted not as much as I first thought) but will ROLL higher for more. | ||||
| Trading stocks and options have risk. Required reading prior to placing money at risk with options is the ODD which is posted below. "The Characteristics & Risks of Standardized Options" Prior to buying or selling an option, investors must read a copy of the Characteristics & Risks of Standardized Options, also known as the options disclosure document (ODD). It explains the characteristics and risks of exchange traded options. | ||||
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