| All rights reserved - Core Position Trading, LLC-2024 | |||||||||
 | CLOSEOUT TRADE | ||||||||
| POOR MAN'S COVERED CALL POSITION HAS BEEN CLOSED OUT | CLOSED | ||||||||
| LOSER | -$7,620.00 | ||||||||
| DAYS | THIS TRADE STARTED AND ENDED | ||||||||
| 120 | March 7, 2024 | July 5, 2024 | |||||||
SNOW |  | TIME AND DATE STAMP | |||||||
| Friday, July 5, 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'. | |||||||||
| PMCC CLOSE OUT | |||||||||
| DETAILS FOR THIS COVERED CALL TRADE | |||||||||
| Today, (10) Covered Call contract(s) were bought back on Snowflake Inc (ticker: SNOW) 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 $8.1 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 | |||||||||
| TIME RAN OUT , with July being the expire date for these options, I tried to manage , $10 OTM strikes trying to get back as many little premium profits as possible , my LEAPS for this trade expire Jul-19 , the stock makes a run over my strike ($136) and I have to either ROLL or just throw up the white flag on this trade and lose money ... 14 trades ... I just couldn't get back to break even ... we did not ROLL because if the stock pulled back over the next 2 weeks I could lose more ... rather take this loss vs something even worse | |||||||||
| THIS TRADE WAS PLACED INSIDE MY NON-TAXABLE IRA ACCOUNT | |||||||||
| 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 | |||||||||
| Symbol | Expiration | Strike | Paid | ||||||
| SNOW | Jul-19 | $100.00 | -$71.15 | ||||||
| Contracts | Controlling shares | Delta | Investment | ||||||
| 3 | 300 | 0.9571 | $56,270.00 | ||||||
| Sold | Current +/- | ||||||||
| $44.20 | (-) $-26.95 | ||||||||
| -$12,070.00 | -21.45% | ||||||||
| 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 | 1.56% | ||||||
| Mar-14 | Mar-19 | $465.00 | 0.83% | ||||||
| Mar-14 | Apr-2 | $784.00 | 1.39% | ||||||
| Apr-4 | Apr-16 | $720.00 | 1.28% | ||||||
| Apr-16 | May-7 | $355.00 | 0.63% | ||||||
| May-10 | May-23 | $2,646.00 | 4.70% | ||||||
| May-28 | May-30 | $744.00 | 1.32% | ||||||
| May-28 | May-31 | $900.00 | 1.60% | ||||||
| Jun-3 | Jun-5 | $1,250.00 | 2.22% | ||||||
| Jun-6 | Jun-7 | $490.00 | 0.87% | ||||||
| Jun-6 | Jun-10 | $530.00 | 0.94% | ||||||
| Jun-10 | Jun-13 | $820.00 | 1.46% | ||||||
| Jun-14 | Jun-18 | $420.00 | 0.75% | ||||||
| Jun-18 | Jun-21 | $600.00 | 1.07% | ||||||
| Jun-26 | Jul-5 | -$7,150.00 | -12.71% | ||||||
| $4,450.00 | 7.91% | ||||||||
| CLOSEOUT TOTALS / BREAKDOWN BY STEP | |||||||||
| BUY TO CLOSE SHORT POSITION | N/A | ||||||||
| TOTAL | N/A | ||||||||
| PAID FOR LEAPS | -$56,270.00 | ||||||||
| SOLD LEAPS | $44,200.00 | ||||||||
| TOTAL COVERED CALL PREMIUMS COLLECTED | $4,450.00 | ||||||||
| TOTAL CASH FLOW | -$7,620.00 | ||||||||
| CASH ON CASH % +/- | -13.54% | ||||||||
| - | |||||||||
| 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 | |||||||||
| Yes, at the time of this trade I do own a position (LEAPS Call Option) | |||||||||
| 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 | |||||||||
| © 2024 Core Position Trading, LLC and the CPT Dashboard - All Rights Reserved | |||||||||
| Disclaimer | |||||||||
SNOW | | ||||||||
