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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 | |||
3M |  | |||
| 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 | $90.00 | |||
| EXPIRATION DATE | CONTRACTS | STRIKE | PREMIUM | CASH PROFIT |
| Feb-4 | 1 | $190.00 | $0.90 | $90.00 |
| WHY I OPENED this PMCC CCW Trade - with MM moving above my $180 strike today and not wanting to end this PMCC just yet ... I bought back the option, making a little but then ROLLED it to the $190 Strike and a Feb-4 expire for which if it challenges my strike then, were making great money off this PMCC trade. | ||||
| DAYS | 30 | DELTA | 0.2716 |  |
| DETAILS [ LEAP PURCHASE + ALL CCW PROFITS/LOSSES] | ||||
| TRADES | INVESTED | MADE | Cash on Cash % | |
1 | $5,601.00 | $77.00 | 1.37% | |
| Details LEAP Call option I'm using for this PMCC | -$5,601.00 | |||
| SYMBOL | LEAP | STRIKE | PAID | INVESTMENT |
| MMM | Jan2023 | $120.00 | $56.01 | |
| CONTRACTS | 1 | DELTA | 0.94 | |
| 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 | .+/- % | ||
| $56.01 | $60.50 | 8.02% | ||
| NOTE: THIS IS NOT FACTORED INTO ANY CALCULATIONS ... just showing | $449.00 | |||
| How have I done with all trades using this LEAP? | $77.00 | |||
| DATE | CONTRACTS | STRIKE | PREMIUM | CASH PROFIT |
| Dec-8 | 1 | $180.00 | $0.77 | $77.00 |
| WHY I CLOSED this PMCC CCW Trade Early - MMM POPPED above my $180 strike and with the markets liking these value plays ... I feel 3M will probably finish the week over $180 and my PMCC trade will be over ... so I will ROLL UP to the $190 Strike, pick up another Krum but if that strike is challenged ... my LEAPS Call Option will have such good value I will probably let it go. We will see | ||||
| 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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