| All rights reserved - Core Position Trading, LLC - 2026 |
 | NEW ITM CCW TRADE |
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| NEW 99 DELTA ITM COVERED CALL TRADE IS NOW | OPEN |
| The 0.99 delta covered call strategy means that instead of purchasing the shares outright, I buy a 2–3 month in-the-money call option (what I refer to as a LEAPS) to simulate stock ownership. The key requirement is that the time value (extrinsic premium) on the LEAPS must be under 0.5%. Additionally, when combining the cost of that time value with the premium received from selling the covered call, the total position must meet my target. A minimum cash-on-cash return of 1.2% per week on an in-the-money covered call basis is preferred. |
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| DAYS | THIS NEW ITM CCW TRADE BEGINS AND ENDS |
| 10 | June 16, 2026 | June 26, 2026 |
| IREN | TIME AND DATE STAMP |
| DPST (3x Leverage ETF to the Regional Banks) | Tuesday, June 16, 2026 |
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| 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 | IREN548.7 |
| Yahoo Summary Page > . | https://finance.yahoo.com/quote/IREN?p=IREN |
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| DETAILS FOR THIS COVERED CALL TRADE |
| Today a NEW Covered Call position was opened using IREN |
| When the stock/ETF was trading for $61.55 a share I SOLD (20) Covered Call contract(s) using controlling interest via an ITM LEAPS Call Option (see details below) for (2000) shares for the Jun-26 expiration date, strike price of $54 receiving a premium of $8.7 or $1.15 in Time Value premium, making $2300 in up front cash flow to begin this trade with a LEAPS cost basis of $61.56 which when you combine my LEAPS Strike Price + my LEAPS premium I paid this would make my combined share price cost basis be $61.65 to break even on the trade. |
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| COMMENTARY AS TO WHY I OPENED THIS TRADE |
| WHY I OPENED this CCW on > IREN |
| This IREN (10) day trade , where I'm trying to capture anywhere from 1.2% to 1.6% for a 5 day trade will make me a projected 2.63% Cash on Cash on money invested |
| Power of the 99 Delta ITM Call Option vs Buying the Shares |
| Owning Shares = 1.87% CoC vs 99 Delta ITM Call Option's 2.63% on $ invested |
| Further Commentary as to why I did this trade |
IREN > I have a current $53 ITM CC I will be taking off the board this week profitable so we just continue this trade for next week, buying another 20 99 Delta Call Options and doing the deep ITM CCW with -12.27% of downside protection
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| THIS TRADE WAS PLACED INSIDE MY NON-TAXABLE IRA ACCOUNT |
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| NO EARNINGS DURING THIS TIMEFRAME |
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| NO EX-DIVIDEND DATE DURING THIS TIMEFRAME |
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| HOW DID I STRUCTURE THIS TRADE? |
| I purchased the shares and sold the ITM Covered Call |
 | I purchased a 99 Delta Call Option and sold the ITM Covered Call |
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| PROJECTED PROFIT POTENTIAL (CCW PREM ONLY) |
| If this trade goes as planned, I will have my shares taken at my strike price and I will only collect the difference between the Real Money and Time Value which is the plan |
| COST BASIS | STRIKE | PREM | Projected Cash Flow |
| $61.55 | $54.00 | $8.70 | $2,300.00 |
| DAYS ON | INTRINSIC VALUE | TIME VALUE | Cash on Cash % |
| 10 | $7.55 | $1.15 | 2.63% |
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| This being an ITM Covered Call ... I did collect the premium of $8.7 but remember that I'm giving away my shares cheaper at $54 so in this case the Time Value premium profit could be $1.15 or $2300 in total premium profit if NO buy back. |
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| MY COST BASIS ON THE 99 DELTA CALL OPTIONS |
| 99 DELTA Strike | 99 DELTA cost | Controlling Shares | Total Cost |
| $18.00 | $43.65 | 2000 | -$87,300.00 |
| DELTA | TimeValueCost | % Cost Paid | 99 DELTA Expiration |
| 0.99 | $0.09 | 0.21% | Jul-17-2026 |
| By purchasing the LEAPS Call Option I was able to simulate stock ownership using $0.0021 vs using $123100 had I outright bought the shares. |
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|  | HOW YOU WOULD BENEFIT FROM THIS TRADE | | |
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| ITM CC BUY SHARES > SELL CALL |
| I BOUGHT THE 99 DELTA ITM CALL OPTION, YOU MIGHT BUY THE SHARES |
| I bought 99 Delta ITM Call Option and then sold the ITM Covered Call ... you could buy the shares and select the same Strike Price for the same ITM Covered Call trade. |
| Stock Price was | Strike Price | Expire | Premium |
| $61.55 | $54.00 | Jun-26 | $8.70 |
| 100 Shares | IF Sold | | | Your Projected Profit |
| $6,155.00 | $5,400.00 | | | $115.00 |
| Cash on Cash % |
| 1.87% |
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| CASH SECURED PUT > SAME STRIKE |
| I DID THE ITM CC , YOU COULD DO THE CSP , SAME STRIKE |
| I bought 99 Delta ITM Call Option and then sold the ITM CCW ... you could select the same Strike Price and sell a Cash Secured Put ... basically the same trade with similair Cash on Cash % on money invested' |
| COST BASIS | STRIKE | PREM | Projected Cash Flow |
| $61.55 | $54.00 | ~ $1.14 | $114.00 |
| Cash on Cash % |
| 2.11% |
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| This is not a recommendation to buy or sell this stock |
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| Disclaimer: I may or may not currently hold a position in the underlying security discussed. You are always welcome to ask whether I am holding a position at the time of discussion. |
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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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| 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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