| All rights reserved - Core Position Trading, LLC-2024 | |||||||||
 | CLOSEOUT TRADE | ||||||||
| POOR MAN'S COVERED CALL POSITION HAS BEEN CLOSED OUT | CLOSED | ||||||||
| WINNER | $2,480.00 | 19.52% | |||||||
| DAYS | THIS TRADE STARTED AND ENDED | ||||||||
| 6 | May 31, 2024 | June 6, 2024 | |||||||
COIN |  | TIME AND DATE STAMP | |||||||
| Thursday, June 6, 2024 | |||||||||
| 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'. | |||||||||
| EVERY TRADE - LINK BELOW | |||||||||
| https://docs.google.com/spreadsheets/d/e/2PACX-1vQFUvXhVrIP6tGIImQp5KammcGAWkHDjoHkUcK_6D15vLMH4TYo6xcjg7GdAguOGUob220rb-Zgeou_/pubhtml?gid=705057581&single=true | |||||||||
| PMCC CLOSE OUT | |||||||||
| DETAILS FOR THIS COVERED CALL TRADE | |||||||||
| Today, (2) Covered Call contract(s) were bought back on ticker: COIN | |||||||||
| Coinbase Global Inc > Because I bought this option back early, I did not make max profit. The final profit / cash flow collected is posted below. Note, instead of making the original premium profit projections. I bought this option back for $21.73 causing a debit in the position but then SOLD the supporting LEAPS Call Option for a profit as outlined below. | |||||||||
| COMMENTARY AS TO WHY I ENDED THIS TRADE | |||||||||
| Why I elected to end this PMCC Covered Call Trade > Since placing this trade when coin base was trading at $223 the stock is rocketed past my strike price in 7 days and with using a 0.76 Delta leap you know what that means I'm going to have to make a decision buy it back now or risk that the stock continues to go higher 1-1 buyback my lips call option only Trails by 76% of that so we're not going to take the risk we're going to close now making 20% and we'll look for another trade highly profitable 7-Day trade | |||||||||
| HOW MUCH COVERED CALLS DID I DO AND THE 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% +/- | ||||||
| May-31 | Jun-6 | -$2,418.00 | -19.04% | ||||||
| -$2,418.00 | -19.04% | ||||||||
| THIS TRADE WAS PLACED INSIDE MY NON-TAXABLE IRA ACCOUNT | |||||||||
 | LEAPS CALL OPTION INFORMATION | | |||||||
| LEAPS CALL OPTION SALE | |||||||||
| 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 WHY I BOUGHT THESE LEAPS CALL OPTIONS > Coin has made a recent rally to $235 and has peeled back to $225 and if you remember the last time I did a poor man's cover call on coin I got involved when the stock was trading in and around 217 and we basically wrote the same covered call using about the same strike so we're going to go ahead and play this and even if it falls we're going to play it and we might even add money to it if the stock were to fall because last time the stock did fall some 20 points and I did buy another leaps call option to support the trade and ultimately the stock moved higher and we made money so I feel very comfortable using the poor man's covered call here with coin and it is the 74 Delta Leap so I understand that I want my strike prices for my near-term cover calls to be out there a bit so the stock could actually run towards the strike price yet not really needing my leaps call option to stay with a one for one stock move because it may or may not get above the strike price we will manage the trade as we need | |||||||||
| Symbol | Expiration | Strike | Paid | ||||||
| COIN | Oct-18 | $180.00 | -$63.51 | ||||||
| Contracts | Controlling shares | Delta | Investment | ||||||
| 2 | 200 | 0.7675 | $12,702.00 | ||||||
| Sold | Current +/- | ||||||||
| $88.00 | (+) $24.49 | ||||||||
| $4,898.00 | 38.56% | ||||||||
| DIVIDEND TREE PURCHASE (IF ANY) | | |||||||
| DIVIDEND TREE | |||||||||
| DETAILS OF THE DIVIDEND STOCK I PURCHASED WITH PROFIT | |||||||||
| Using Covered Call profits , I want to buy dividend paying stocks to provide a passive income for me and my family , below I share if I purchased any | |||||||||
 | |||||||||
| DID I ADD TO A 'DIVIDEND TREE' WITH THE PROFITS? | |||||||||
| Using Covered Call profits , I want to buy dividend paying stocks to provide a passive income for me and my family , below I share if I purchased any | |||||||||
| DIVIDEND PAYING STOCK | SYM | Date | Shares | Total Cost | |||||
| YieldMax AMD Option Income Strategy ETF | AMDY | Jun-6 | 70 | $1,194.90 | |||||
| CLOSEOUT TOTALS / BREAKDOWN BY STEP | |||||||||
| BUY TO CLOSE SHORT POSITION | N/A | ||||||||
| TOTAL | N/A | ||||||||
| PAID FOR LEAPS | $12,702.00 | ||||||||
| SOLD LEAPS | $17,600.00 | ||||||||
| TOTAL COVERED CALL PREMIUMS COLLECTED | -$2,418.00 | ||||||||
| TOTAL CASH FLOW | $2,480.00 | ||||||||
| CASH ON CASH % +/- | 19.52% | ||||||||
| 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 | |||||||||
| Disclaimer - Yes - at the time of this posting I do own LEAPS Call Options. That could mean in my taxable , non-taxable accounts or both. I am by no means recommending this stock for purchase | |||||||||
| 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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