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| ROLLED UCPTD Trades | CCW on SNOW > $744. MADE > $3900 PROJECTED > (31) days | |||||||||
| 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 | ||||||||
| Tuesday, May 28, 2024 | |||||||||
| CLOSED ORIGINAL CCW TRADE > DETAILS PREMIUM PROFIT ONLY | |||||||||
| Snowflake Inc | SNOW |  | |||||||
| TRADE 1 > COLLECTED | TRADE 2 > PROJECTIONS | ||||||||
| $744.00 | $3,900.00 | ||||||||
| CLOSED CCW TRADE DETAILS | |||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (OPEN) | |||||||||
| On May-28 I placed this original trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Days | Premium was | ||||||
| $151.04 | $165.00 | 2 | $2.30 | ||||||
THIS WAS THE TRADE WITH THE PROFIT PROJECTIONS | Contracts | Projected Cash Flow | |||||||
| 6 | $1,380.00 | ||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (CLOSED) | |||||||||
| Premium was | Buy Back was | Total Cash Flow I made | |||||||
| $2.30 | -$1.06 | $744.00 | |||||||
AS THE TRADE PROGRESSED, THE OPTION FELL, OPTION PROFIT WAS AVAILABLE SO I DECIDED TO CLOSE THIS TRADE. | -50% Rule? | Percentage Down | |||||||
| YES | -53.91% | ||||||||
| 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 > SNOW > The stock is absolutely getting destroyed and where I once thought that I would have a profit after the stock had fallen 3 months ago after earnings now I'm finding I'm struggling to find profitability so I buy this back because the option had fallen 50% and I still have 30 days left on this trade so with having August as an expiration date on the leaps call options I'm going to need to write two more covered calls and hopefully get out of the trade profitable I have a feeling I'm going to have to add more leaps call options to this trade to help lower my Breakeven > The option has fallen such that its down some -0.53% at the time of this buy back and with (29) day left. | |||||||||
| ROLLED CCW TRADE DETAILS | |||||||||
| NEW CCW TRADE (ROLLED) DETAILS BELOW (OPEN) | |||||||||
| Today, May-30 I placed this NEW CCW trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Expire | Days | ||||||
| $142.89 | $150.00 | Jun-28 | 31 | ||||||
| NEW Premium | Contracts | Projected Cash Flow | |||||||
| $3.90 | 10 | $3,900.00 | |||||||
| Projected Cash Flow | |||||||||
| 6.93% | |||||||||
| REASONING FOR ROLLING THIS MONEY VS JUST SITTING (FINAL) | |||||||||
| This trade on SNOW starts out as a > (31) day trade where Im trying to capture anywhere from 3% - 5% for a monthly Covered Call Trade. This trade will make $3900 dollars which represents 6.05% on money invested. The stock looked very promising after earnings, in the after market, next day the stock falls and now its really hammered, Im just looking to get as much out of these LEAPS call options as I can as July is my expire date IF my shares are taken at this strike price, my expected LEAPS value will be $50.6997 , my cost basis is $-56.27 NOTE - I ADDED ANOTHER (4) LEAPS CALL OPTIONS TO SUPPORT MY BREAK EVEN ... IF MY SHARES ARE TAKEN I WILL LOSE MONEY ON THE LEAPS OPTIONS BUT THE OVERALL TRADE WILL MAKE MONEY AS THE COEVERED CALL PREMS WILL MAKE UP FOR UP. | |||||||||
| 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 | ||||||
| SNOW | Jul2024 | $100.00 | $56,270.00 | ||||||
| Contracts | Controlling shares | Delta | Paid? | ||||||
| 10 | 1000 | 0.9571 | $56.27 | ||||||
| The Current LEAPS value > | Current Value | $44.00 | |||||||
| I AM CURRENTLY (+) or (-) this amount starting this trade > | -$12.27 | ||||||||
| The LEAPS value will move higher > | Projected Value | $50.70 | |||||||
| 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% +/- | ||||||
| Mar-7 | Mar-14 | $876.00 | 4.10% | ||||||
| Mar-14 | Mar-19 | $465.00 | 2.18% | ||||||
| Mar-14 | Apr-2 | $784.00 | 2.75% | ||||||
| Apr-4 | Apr-16 | $720.00 | 2.53% | ||||||
| Apr-16 | May-7 | $355.00 | 1.00% | ||||||
| May-10 | May-23 | $2,646.00 | 6.84% | ||||||
| May-28 | May-30 | $744.00 | 1.92% | ||||||
| May-28 | Jun-28 | $3,900.00 | 6.05% | ||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| #DIV/0! | |||||||||
| $10,490.00 | 18.64% | ||||||||
| PMCC RESOURCES | |||||||||
| CPT 2024 NEW Poor Man's Covered Call Tracker | |||||||||
| NEW PMCC Tracker with new calculators and the Initial Trade Setup | |||||||||
| STWTME VIDEO | CHEVRON (CVX) PMCC TRADE RECAP - EXPLAIN | |||||||||
In this video, I talk about a Chevron PMCC trade where I run thru the various profit projections based on how I cloes the trade. | |||||||||
| 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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