| All rights reserved - Core Position Trading, LLC-2022 | ||||
 | NEW CCW TRADE | |||
| Covered Call Option Buy Back / New Covered Call Trade | ||||
| Covered Call position was closed and opened on | ||||
| TIME AND DATE STAMP | Thursday, February 17, 2022 | |||
3M Co |  | |||
| 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'. | ||||
| My brief explanation for the trades | ||||
| WHY I CLOSED EARLY | ||||
| WHY I CLOSED THIS TRADE - I did collect the dividend on this 3M trade but with it getting a downgrade today, the waters will be a bit rough in the near term so I will need to have a plan and not sit on my hands ... I might roll this out and try to continue to use the shares for premium but as for this trade, we close it, we will move on. The BB below does not show the dividend but the final profit does > finals numbers are as such > $3.50 + $1.48 - $0.75 * 200 shares = $846 | ||||
| Breakdown of the profit for the 1st trade (BUYBACK) | ||||
| STRIKE | PREM | CONTRACTS | BUYBACK | % +/- |
| $160.00 | $3.50 | 2 | -$0.75 | 2.64% |
| CASH PROFITS > | $846.00 | |||
| WHY I ROLLED | ||||
| WHY I OPENED THIS TRADE - CCW - 3M falls and I have to do a covered call to try to keep rolling for credits ... i just can not sit on my hands and will work this trade hoping with the recent downgrade by Morgan Stanley it wont get up much ... it will probably challenge this strike but I will keep managing it as I need too ... for now, its a new trade, we manage it. I bought these 200 shares @ $160.85 and the stock is currently trading @ $149.85 (-$11) I have collected +$7.03 If my shares are taken @ $155 I would lose -$5.85 a share but will profit $1.18 ... nothing to write home about for a 60 day trade but with a falling stock by -$11 ... I think this would be a win. | ||||
| Breakdown of the profit for the 2nd trade (ROLL) | ||||
| STRIKE | PREM | CONTRACTS | BUYBACK | EXPIRE |
| $155.00 | $2.80 | 2 | $0.00 | Mar-25 |
| CoC% | CoC$ | |||
| 1.86% | $560.00 | |||
| Disclaimer - Yes - at the time of this posting I do own shares. I am by no means recommending this stock for purchase | ||||
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| All of my CPT Abbreviations and Acronyms can be found below | ||||
| https://cptdashboard.blogspot.com/2021/02/CPT-lingo.html | ||||
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