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 | CLOSED CSP TRADE | ||||||||
| STANDARD CASH SECURED PUT TRADE IS NOW | CLOSED | ||||||||
WINNER | $588.00 | ||||||||
| DAYS ON | THIS CASH SECURED PUT TRADE IS CLOSED / NO ROLL | ||||||||
| 7 | August 1, 2024 | August 8, 2024 | |||||||
CONL |  | TIME AND DATE STAMP | |||||||
| Thursday, August 8, 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'. | |||||||||
| UNIQUE TRADE IDENTIFIER | CONL251.57 | ||||||||
| DIVIDEND WHEEL TRADE | |||||||||
| The 'Dividend Wheel' trade uses a dividend paying stock that I own , we buy and hold the stock thru its ex-dividend date , collecting the dividend , we then sell the position , using the cash from that sale I will then use the Cash Secured Put to sell weekly(s) CSP's trying to collect what basically equals the per share dividend I just received from said dividend stock I sold ... we will do this all month until we much exit the options positions to have the cash back to purchase the dividend stock again prior to the ex-date , collect the dividend and repeat the process. Taking ALL added cash flow and buying MORE shares of this dividend paying stock. | |||||||||
| For this dividend wheel I sold my SPYT ( ) with the idea that once the stock/funds ex-date approaches we will re-enter this position. | |||||||||
| Yahoo Chart Link > | https://finance.yahoo.com/quote/CONL/chart | ||||||||
| DETAILS FOR THIS CASH SECURED PUT TRADE | |||||||||
| Today, (7) Cash Secured Put contract(s) were bought back on GraniteShares 2x Long COIN Daily ETF (ticker: CONL) for the Aug-16-2024 Expiration Date, $25 Strike Price for a Premium of $1.57 > CONL was trading for $30.75 a share when I placed this trade. Because I bought this option back early, I did not make max profit. The final profit / cash flow collected it posted below. Instead of making the original premium, I collected $0.84 or -53.5% of the total projected cash flow for this trade. | |||||||||
| THIS TRADE WAS PLACED INSIDE MY TAXABLE ACCOUNT | |||||||||
| CASH SECURED PUTS ARE PREMIUM ONLY TRADES | |||||||||
| Stock Price - placed | Date | Expire WAS | Days On | ||||||
| $30.75 | Aug-1 | Aug-16 | 7 | ||||||
| Strike Price | Premium WAS | The Buy Back | Cash Flow Collected | ||||||
| $25.00 | $1.57 | -$0.73 | $588.00 | ||||||
| Contracts | Cash Invested? | Cash Flow Collected | |||||||
| 7 | $17,500.00 | 3.36% | |||||||
| COMMENTARY AS TO WHY I CLOSED THIS TRADE | |||||||||
| WHY I CLOSED this CSP Trade on > CONL > This being a dividend wheel trade, we dont have to take this expiration , were looking to pocket about 50% or more of the premium and move , if more, thats good but we will take this and add to the SPYT share count and keep wheeling until ~29th of this month > The option has fallen such that its down some 53.5% at the time of this buy back and with (8) day left. | |||||||||
| -50% , -10% RULES (PRICES WHEN I MIGHT BUY BACK) | |||||||||
| Premium | -50% | 10% Rule | My Buy Back was? | ||||||
| $1.57 | $0.79 | $0.16 | -$0.73 | ||||||
| -50% Rule? | Percentage Down | ||||||||
| YES | -53.50% | ||||||||
| What does this mean? If within the first week the option falls 50% I will buy back the option and look to roll for another credit ... if the option falls to 10% of the value, I will buy back and roll. | |||||||||
| MY FAVORITE CASH SECURED PUT TRAINING VIDEO | |||||||||
| CLICK HERE TO WATCH CSP TRAINING |  | ||||||||
| https://www.youtube.com/watch?v=JhmmSJBt_dg | |||||||||
| BASIC CSP TRAINING | |||||||||
| DIVIDEND WHEEL | SPYT | ||||||||
| Using Cash Secured Put premium profits I will BUY more of this dividend paying stock/etf using the 'Dividend Wheel' strategy | |||||||||
 | |||||||||
| HOW MANY NEW SHARES DID THIS TRADE PRODUCE? | |||||||||
| Dividend Paying Stock | SYM | Date | TODAY's Price | NEW SHARES | |||||
| Defiance S&P 500 Target Income ETF | SPYT | Aug-8 | $18.89 | 31 | |||||
| Yahoo Summary Link > | https://finance.yahoo.com/quote/SPYT?p=SPYT | ||||||||
| 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 shares. 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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