| All rights reserved - Core Position Trading, LLC-2024 | |||||||||
 | 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, May 15, 2024 | |||||||||
| CLOSED ORIGINAL CCW TRADE > DETAILS PREMIUM PROFIT ONLY | |||||||||
| Las Vegas Sands | LVS |  | |||||||
| TRADE 1 > COLLECTED | TRADE 2 > PROJECTIONS | ||||||||
| $345.00 | $357.00 | ||||||||
| CLOSED CCW TRADE DETAILS | |||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (OPEN) | |||||||||
| On Apr-24 I placed this original trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Days | Premium was | ||||||
| $45.16 | $49.00 | 21 | $0.30 | ||||||
THIS WAS THE TRADE WITH THE PROFIT PROJECTIONS | Contracts | Projected Cash Flow | |||||||
| 15 | $450.00 | ||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (CLOSED) | |||||||||
| Premium was | Buy Back was | Total Cash Flow I made | |||||||
| $0.30 | -$0.07 | $345.00 | |||||||
AS THE TRADE PROGRESSED, THE OPTION FELL, OPTION PROFIT WAS AVAILABLE SO I DECIDED TO CLOSE THIS TRADE. | -50% Rule? | Percentage Down | |||||||
| YES | -76.67% | ||||||||
| REASONING FOR BUYING BACK THIS CCW OPTION (FINAL) | |||||||||
| WHY I CLOSED this PMCCTrade on >LVS > Las Vegas Sands has been disappointing but it is what it is so we keep selling calls, buying them back when the option falls -50% in the first week or 2 , in this case with about 2 weeks left it had fallen to -71% so lets take this off the board and find another trade. > The option has fallen such that its down some -0.766666666666667% at the time of this buy back and with (9) day left > To see the full blog post write-up > Go to the Real Time trade blow and type in the UT# in the top right Search area > LVS490.3 | |||||||||
| UNIQUE CLOSED TRADE IDENTIFIER | LVS490.3 | ||||||||
 | CLOSED TRADE ENDS | NEW TRADE BEGINS |  | |||||||
| ROLLED CCW TRADE DETAILS | |||||||||
| NEW CCW TRADE (ROLLED) DETAILS BELOW (OPEN) | |||||||||
| Today, May-15 I placed this NEW CCW trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Expire | Days | ||||||
| $45.82 | $49.00 | Jun-7 | 23 | ||||||
| NEW Premium | Contracts | Projected Cash Flow | |||||||
| $0.21 | 17 | $357.00 | |||||||
| Projected Cash Flow | |||||||||
| 1.85% | |||||||||
| REASONING FOR ROLLING THIS MONEY VS JUST SITTING (FINAL) | |||||||||
NOTE: I BOUGHT (2) MORE LEAPS CALL OPTIONS TO REDUCE MY BREAK EVEN FOR THIS TRADE > HAD 15 > HAVE 17 NOW WHY I OPENED this PMCC on > LVS > (23) day trade where Im trying to capture anywhere from 3% - 5% for a monthly Covered Call Trade. This trade will make $357 dollars which represents 1.85% on money invested. Further commentary > At this point, LVS is a little KRUM collector as I try to stay with the stock as it works out the sellers from its most recent earnings ... I picked this EXPIRE date to give myself 2 more weeks to use these LEAPS as Jun-19 is the expire date ... it has to workout or I take a hit selling my LEAPS low ... we will see > If this trades as its projected, I will lose money on the LEAPS Call Option > IF my shares are taken at this strike price, my expected LEAPS value will be $11.11 , my cost basis is $-11.36, losing money | |||||||||
| UNIQUE NEW TRADE IDENTIFIER | LVS490.21 | ||||||||
| 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 | Investment | ||||||
| LVS | Jun2024 | $38.00 | $19,319.00 | ||||||
| Contracts | Controlling shares | Delta | Paid? | ||||||
| 17 | 1700 | 0.9461 | -$11.36 | ||||||
| The Current LEAPS value > | Current Value | $8.10 | |||||||
| I AM CURRENTLY (+) or (-) this amount starting this trade > | $-3.26411764705882 | ||||||||
| The LEAPS value will move higher > | Projected Value | $11.12 | |||||||
| The 'Projected Value' is based on where the LEAPS is valued at the start of this trade and where the LEAPS value will be at the strike price. | |||||||||
| 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% +/- | ||||||
| 3/20/2024 | Apr-12 | $740.00 | 3.83% | ||||||
| 4/11/2024 | Apr-18 | $1,140.00 | 5.90% | ||||||
| 4/18/2024 | Apr-24 | $645.00 | 3.34% | ||||||
| 4/24/2024 | May-15 | $345.00 | 1.79% | ||||||
| 5/15/2024 | Jun-7 | $357.00 | 1.85% | ||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $3,227.00 | 16.70% | ||||||||
| 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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