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 | CCW CLOSEOUT |
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| THIS 99 DELTA ITM COVERED CALL IS CLOSED OUT | CLOSED |
| This trade used the 99 Delta ITM Call Option to support the trade. I did not purchase chares in the tradional ITM Covered Call trade which allowed me to make more CoC % gain on money invested |
| Today I CLOSED this 99 DELTA ITM CCW position on LABU |
I was projected to make $4,040 but because the buy back and the close of the 99 Delta cost more, well, I made a mere $2,920 and this is a lesson learned ... I paid 0.51 cents in TV for the 99 Delta ... when I sold it there was no TV ... so an unexpected lost of -0.51 cents and the -0.20 cents in the buy back ... and slippage in the stock price, ugh ... anyway, a win is a WIN and we will take it ...another incredible use of the 99 Delta call option, using that deep ITM strike ... love this trade > simple buy back as the stock has fallen, we can pocket the premium and now will look to use the time remaining on this option for the next option, will roll out to next week if the numbers work out in my favor. > the stock has fallen such that this option is down -95.05% which means we will use TIME to our advantage and close this trade, taking risk off the table and now have cash back in the account to make another trade.
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| This trade makes $2920 in Covered Call trade profit. The stock has traded such that I've bought this option which makes $2920 or 3.41% on money invested. |
| THIS TRADE WAS PLACED INSIDE MY NON-TAXABLE IRA ACCOUNT |
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| DETAILS FOR THE LAST COVERED CALL | CLOSED |
| To understand the buy back cost, you remove the intrinsic value from the current real time option price from the current real time stock price ... this would represent the remaining time value left in the option. This is what you subtract from your original covered call premium profit to get your final covered call premium profit for this trade. |
| Date Open | Stock Price | Strike Price | Premium |
| Jun-12 | $180.16 | $166.00 | $18.20 |
| Date Closed | Stock Price | Time Value Cost | Buy Back |
| Jun-16 | $117.07 | -$4.80 | -$23.00 |
| Buy Back Cost |
| -$4,800.00 |
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| DETAILS FOR THE 99 DELTA CALL OPTION | SOLD |
| Date Open | 99 Delta Strike | 99 Delta Cost | 99 Delta Total Cost |
| Jun-12 | $50.00 | $85.67 | -$85,670.00 |
| Date Closed | | 99 Delta Sold | 99 Delta Total Sold |
| Jun-16 | | $93.39 | $93,390.00 |
| 99 Delta Profit/Loss |
| $7,720.00 |
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| UNIQUE TRADE IDENTIFIER | LABU16618.2 |
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| CLOSEOUT TOTALS / BREAKDOWN BY STEP |
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| PAID FOR 99 DELTA | -$85,670.00 |
| SOLD 99 DELTA | $93,390.00 |
| TOTAL COVERED CALL PREMIUMS COLLECTED | -$4,800.00 |
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| TOTAL CASH FLOW | $2,920.00 |
| CASH ON CASH % +/- | 3.41% |
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| DID I TAKE PROFITS AND BUY A DIVIDEND FUND? | NO |
| 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 |
| #N/A | | Jun-16 | | $0.00 |
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| Yahoo Summary Link > | https://finance.yahoo.com/quote/PASTE CURRENT TRADE BELOW?p=PASTE CURRENT TRADE BELOW |
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| DID I SAVE SOME MONEY FOR TAXES? | NO |
| Saving money from profits to help pay for taxes is important so I moved over this amount and bought this dividend ETF as a place holder for the tax year |
| DIVIDEND PAYING STOCK | SYM | Date | Shares | Total Cost |
| #N/A | | Jun-16 | | $0.00 |
| I took 25% of the total premium profit $ and bought () shares of to keep all year and collect dividends on and come tax time I will sell equal dollars in said ETF to pay the tax man |
| Yahoo Summary Link > | https://finance.yahoo.com/quote/ |
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| JUST KEEPING IN THE IRA TO BUILD THE BANK ROLL | YES |
| Because this is in my non-taxable account I'm just going to use the premium to build the account size to make more premium versus buying dividend paying funds will save that for all my taxable accounts and with no tax implications we're not going to put any money in the tax bucket either |
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| This is not a recommendation to buy or sell this stock |
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| 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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