| All rights reserved - Core Position Trading, LLC-2022 |
 | CLOSE OUT TRADE |
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| PMCC COVERED CALL TRADE WAS CLOSED TODAY | CLOSED |
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| This Poor Man's Covered Call trade has been closed out and the profit or loss numbers are posted below. Close out means I SOLD the Leaps Call Option that supported the near term Covered Call positions |
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XLF | | | TIME AND DATE STAMP |
| Friday, November 25, 2022 |
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| 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'. |
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| HOW MANY DAYS WAS THIS INVESTMENT? |
| 245 | March 25, 2022 | November 25, 2022 |
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| FINAL PROFIT / LOSS NUMBERS BELOW |
| -$408.00 | | -10.97% |
| ON MONEY INVESTED |
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| Details LEAP Call option I'm using for this PMCC |
| SYMBOL | LEAP | STRIKE | PAID | INVESTMENT |
| XLF | Jan2023 | $21.00 | $18.60 | $3,720.00 |
| CONTRACTS | 2 | DELTA | 0.98 | YES |
| 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 | .+/- % |
| $18.60 | $15.15 | -18.55% |
| NOTE: THIS IS NOT FACTORED INTO ANY CALCULATIONS ... just showing | -$690.00 |
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| DETAILS [ LEAP PURCHASE + ALL CCW PROFITS/LOSSES] |
| TRADES | INVESTED | MADE | |
5 | $3,720.00 | $282.00 |
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| DOES INCLUDE THE LAST CLOSED CCW TRADE (SEE BELOW) |
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| How have I done with all trades using this LEAP? | $282.00 |
| DATE | CONTRACTS | STRIKE | PREMIUM | CASH PROFIT |
| Mar-25 | 2 | $39.50 | $0.66 | $132.00 |
| WHY I CLOSED this PMCC CCW Trade > XLF has fallen , my option has fallen -70% of its value in this very short window ... I probaly could have let this run a little longer without a buy back but have decided to ROLL it down. |
| Apr-1 | 2 | $39.00 | $0.53 | $104.00 |
| WHY I CLOSED this PMCC CCW Trade > 0.01 or $1.00 to close this 5 days early ... I can do that ... now will look to ROLL this ... I might even ADD another LEAPS to this trade to make the premiums more worth the risk :) |
| May-10 | 2 | $35.00 | $0.56 | $112.00 |
| WHY I CLOSED this PMCC CCW Trade > trade closed worthless, so we will look to roll this even as the markets have fallen again |
| Jun-23 | 2 | $32.50 | $0.47 | $64.00 |
| WHY I CLOSED this PMCC CCW Trade > this one was scary BUT I bought back and made a tiny krum ... but here's what I kicked myself ... I could have bought back for 0.07 cents ... instead I played chicken, left my computer for a jog and came back and had to buy back double the cost as I had to leave for a fam event ... ugh! Anyway, no shares taken, we move on, will ROLL Monday |
| Oct-28 | 2 | $35.00 | $0.49 | -$130.00 |
| WHY I CLOSED this PMCC CCW Trade > I could ROLL this for a credit BUT, with XLF having a heck of a recent rally, and with just (2) months of LEAPS Call time left ... I'm going to take this -5% on the position and reboot and think about using this money elsewhere. If I had to do it again, I would not have picked the XLF ... but this Spider is a steady eddie play and I might re-visit it again in 2023 |
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| 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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| Feel free to email me if you have questions and/or concerns about this post - corepositiontrading@gmail.com - I usually will get back with you in 48 hours or sooner |
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