| All rights reserved - Core Position Trading, LLC-2023 | |||||||||
 | NEW CCW TRADE | ||||||||
| NEW (OTM) COVERED CALL TRADE IS NOW | OPEN | ||||||||
| DAYS | THIS NEW CCW TRADE BEGINS AND ENDS | ||||||||
| 35 | November 17, 2023 | December 22, 2023 | |||||||
FAS |  | TIME AND DATE STAMP | |||||||
| Friday, November 17, 2023 | |||||||||
| 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'. | |||||||||
| View Chart-FAS | |||||||||
| COVERED CALL | |||||||||
| DETAILS FOR THIS COVERED CALL TRADE | |||||||||
| Today a NEW Covered Call position was opened using 3x ETF (ticker: FAS) | |||||||||
| Direxion Daily Financial Bull 3x Shares ETF , when the stock was trading for $66.69 a share , I Sold (10) (OTM) Covered Call contracts(s) using (1000) shares for the December-22-2023 Expiration Date, $71.50 Strike Price receiving a Premium of $1.50 or $1500 cash flow. | |||||||||
| COMMENTARY AS TO WHY I OPENED THIS TRADE | |||||||||
| WHY I OPENED this CCW on FAS > I've had these share sitting on the sidelines for many weeks and I believe it's time to get them involved and with me being able to use a strike price that is actually my cost basis this trade will be a $1,500 profit and with all the other cover calls I've written makes this a tremendously profitable trade it's just taken some months to get here | ||||||||
| > as with every trade, I will manage this trade as it approaches expiration ... buying back the option if it adheres to my -50% and 0.10 cent guidelines. -50% guideline being, such this option price fall 50% or more in the first 2 weeks I will buy back and look to roll the option - if the this option falls to 0.10 or less (in most cases) I will buy back the option and roll it for another credit if it presents itself. | |||||||||
| PROJECTED PREMIUM ONLY POTENTIAL (CCW PREM EXPIRE WORTHLESS) | |||||||||
| If the stock finishes below the strike price and my shares are not taken and no dividend was offered then this becomes a premium trade only and below is the projected PROFIT projections for this trade. | |||||||||
| Total Prem$ | Projected Cash Flow | ||||||||
| $1,500.00 | $1,500.00 | ||||||||
| Cash on Cash % | |||||||||
| 4.83% | |||||||||
| WHAT IF MY SHARES ARE TAKEN | |||||||||
| What if my shares were expectedly taken on this trade prior to expiration or I didn't manage it correctly by ending the trade early if I didn't want my shares taken prior to the expire date? | |||||||||
| Cost Basis - per share | Shares taken | I would Profit or Lose this | |||||||
| $71.15 | $71.50 | $350.00 | |||||||
| 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. | |||||||||
| 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. | |||||||||
| Disclaimer - No - at the time of this posting I did not own the shares of this equity ... I risk my own money on this trade and am accountable for the trade results | |||||||||
| 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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