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 | NEW PMCC TRADES | ||||||||
| STANDARD POOR MAN'S COVERED CALL TRADE IS NOW | ROLLED | ||||||||
Today I ROLLED (Closed then Opened) a CCW trade basically at once and have consolidated the trades here. | TIME AND DATE STAMP | ||||||||
| Thursday, September 14, 2023 | |||||||||
| CLOSED ORIGINAL CCW TRADE > DETAILS PREMIUM PROFIT ONLY | |||||||||
| UPS | UPS |  | |||||||
| TRADE 1 > COLLECTED | TRADE 2 > PROJECTIONS | ||||||||
| $1,160.00 | $1,520.00 | ||||||||
| CLOSED CCW TRADE DETAILS | |||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (OPEN) | |||||||||
| On Sep-1 I placed this original trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Days | Premium was | ||||||
| $169.75 | $175.00 | 28 | $1.55 | ||||||
THIS WAS THE TRADE WITH THE PROFIT PROJECTIONS | Contracts | Collected Cash Flow | |||||||
| 10 | $1,550.00 | ||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (CLOSED) | |||||||||
| Premium was | Buy Back was | Total Cash Flow I made | |||||||
| $1.55 | $0.39 | $1,160.00 | |||||||
AS THE TRADE PROGRESSED, THE OPTION FELL, OPTION PROFIT WAS AVAILABLE SO I DECIDED TO CLOSE THIS TRADE. | -50% Rule? | Percentage Down | |||||||
| YES | -74.84% | ||||||||
| REASONING FOR BUYING BACK THIS CCW OPTION (FINAL) | |||||||||
| In this case, the Covered Call (CCW) option where I received more premium then I had to pay back was profitable | |||||||||
| WHY I CLOSED this PMCC CCW Trade > UPS > With the stock moving lower and my option basically falling some -90% and having 23 days left until expiration we're going to close this pocket $1100 and now we're going to look to roll a strike price that's nearest | |||||||||
| ROLLED CCW TRADE DETAILS | |||||||||
| NEW CCW TRADE (ROLLED) DETAILS BELOW (OPEN) | |||||||||
| Today, Sep-28 I placed this NEW CCW trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Expire | Days | ||||||
| $160.11 | $165.00 | Oct-27 | 43 | ||||||
| NEW Premium | Contracts | Projected Cash Flow | |||||||
| $3.04 | 5 | $1,520.00 | |||||||
| Projected Cash Flow | |||||||||
| 7.33% | |||||||||
| REASONING FOR ROLLING THIS MONEY VS JUST SITTING (FINAL) | |||||||||
| WHY I OPENED this CCW on UPS > Having conviction that UPS is trading off due to the teamster deal reveal and that selling has slowed, gonna use another new purchase of LEAPS for this trade and manage it ... ( The trade's MAX projected profit is $4,202 if shares taken and $1,860 if shares are not taken and the trade expires worthless ) > LEAPS (+) > The stock is trading above what would be my 'cost basis' for the shares (ie, the LEAPS is up) so if my shares are taken I will make money on the LEAPS Call Option | |||||||||
| LEAPS CALL OPTION | |||||||||
| DETAILS OF THE LEAPS CALL OPTION I PURCHASED | |||||||||
| Below is the LEAPS Call Option purchase information. The performance part is based on a DELTA MOVE in the LEAPS vs the ACTUAL stock move so the numbers are as close as I can get them as DELTAs can change | |||||||||
| Symbol | Expiration | Strike | Paid | ||||||
| UPS | Jan2024 | $120.00 | $41.50 | ||||||
| Contracts | Controlling shares | Delta | Investment | ||||||
| 5 | 500 | 96 | $20,750.00 | ||||||
| Current Value | Current +/- | ||||||||
| $35.40 | (-) $6.1 | ||||||||
| USING THIS LEAPS CALL OPTION, HOW MUCH PREMIUM ? | |||||||||
| Below are all of the Covered Calls I have sold while owning this position. It does includes the current active Covered Call Trade. | |||||||||
| Date Opened | Date Closed | Cash Flow | CoC% +/- | ||||||
| Sep-14 | Oct-27 | $1,860.00 | 8.96% | ||||||
| Sep-28 | Oct-27 | $1,520.00 | 7.33% | ||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| $3,380.00 | 13.43% | ||||||||
| Remember, the content of this site is for informational and educational purposes only. If you invest using information contained here, do so at your own risk. Please read the full disclaimer posted below and visit cptdashboard.com for my privacy policy. | |||||||||
| This is not a recommendation to buy or sell this stock | |||||||||
| Yes, at the time of this trade I do own a position (LEAPS Call Option) | |||||||||
| 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. | |||||||||
| 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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