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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 | ||||||||
| Wednesday, January 10, 2024 | |||||||||
| CLOSED ORIGINAL CCW TRADE > DETAILS PREMIUM PROFIT ONLY | |||||||||
| 3x ETF Shares | YINN | ||||||||
| TRADE 1 > COLLECTED | TRADE 2 > PROJECTIONS | ||||||||
| $1,100.00 | $1,100.00 | ||||||||
| CLOSED CCW TRADE DETAILS | |||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (OPEN) | |||||||||
| On Jan-5 I placed this original trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Days | Premium was | ||||||
| $19.12 | $20.50 | 4 | $0.90 | ||||||
THIS WAS THE TRADE WITH THE PROFIT PROJECTIONS | Contracts | Projected Cash Flow | |||||||
| 20 | $1,800.00 | ||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (CLOSED) | |||||||||
| Premium was | Buy Back was | Total Cash Flow I made | |||||||
| $0.90 | $0.35 | $1,100.00 | |||||||
AS THE TRADE PROGRESSED, THE OPTION FELL, OPTION PROFIT WAS AVAILABLE SO I DECIDED TO CLOSE THIS TRADE. | -50% Rule? | Percentage Down | |||||||
| YES | -61.11% | ||||||||
| 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 Trade on > YINN > The option has fallen such that its down some -0.61% at the time of this buy back I've elected to pay this amount and use this time to ROLL for another credit if possible. | |||||||||
| ROLLED CCW TRADE DETAILS | |||||||||
| NEW CCW TRADE (ROLLED) DETAILS BELOW (OPEN) | |||||||||
| Today, Jan-9 I placed this NEW CCW trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Expire | Days | ||||||
| $17.00 | $20.50 | Feb-9 | 30 | ||||||
| NEW Premium | Contracts | Projected Cash Flow | |||||||
| $0.55 | 20 | $1,100.00 | |||||||
| Projected Cash Flow | |||||||||
| 29.73% | |||||||||
| REASONING FOR ROLLING THIS MONEY VS JUST SITTING (FINAL) | |||||||||
| WHY I OPENED this CCW on > YINN > Poor Man's Covered Call > 30 day trade where Im trying to capture anywhere from 3.0% - 5.0% for a Covered Call Trade. This trade will make $1,100 in Covered Call Premium. IF my shares are taken at this strike price, my expected LEAPS value will be $ $6.51 , my cost basis is $ $6.80 (losing money) but the entire trade will make money | |||||||||
| 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% +/- | ||||||
| Dec-4 | Dec-29 | $930.00 | 12.74% | ||||||
| Dec-5 | Dec-22 | $1,090.00 | 17.30% | ||||||
| Dec-5 | Dec-15 | $800.00 | 12.70% | ||||||
| Jan-5 | Jan-9 | $1,100.00 | 8.09% | ||||||
| Jan-10 | Feb-9 | $1,100.00 | 8.09% | ||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| $5,020.00 | 36.91% | ||||||||
| 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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