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 | CCW CLOSEOUT |
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| THIS ITM COVERED CALL IS CLOSED OUT | CLOSED |
| THE NEW CAMPAIGN TRACKER NUMBER IS > _ | C#_11 |
| This trade used the 99 Delta ITM Call Option to support the trade. I did not purchase shares in the traditional 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 GGLL |
Google continued to move higher following its earnings report, and GGLL rallied from approximately $90 to $120. Because we had the $90 in-the-money covered call in place, I was able to buy it back early by giving back a small amount of time value premium. That allowed me to close the trade five days before expiration and sell the 99 Delta long call. Unfortunately, I didn't realize my full projected profit. The issue wasn't with the 99 Delta strategy itself—it was simply a matter of timing. Between buying back the near-term covered call and selling the 99 Delta, GGLL dropped from about $21 to $20, costing approximately $1,000 in profit during that short window. Even with that setback, the trade still generated approximately $4,600 over a very short holding period. It's a good reminder that sometimes execution timing—not the strategy—is the difference between the projected profit and the actual result. I'll gladly take a $4,600 profit and move on to the next opportunity. > > these numbers represent the real time numbers at close : stock price $121.05 / buy back $31.4 / the total give back was -0.35 Another 99 Delta Deep In-the-Money Covered Call success story. Using GGLL, we selected the $90 for some downside protection , which also aligned almost perfectly with favorable entry point. This approach continues to provide the downside protection we're looking for while allowing us to generate income and maintain exposure to one of the market's strongest stocks. It's another great example of letting technical support levels guide the trade while using deep ITM options to maximize capital efficiency and risk management. Although the total near term covered call buyback equaled $31.4 the real time value left in the option was a mere -0.35 cents
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| This trade makes $4,600 in Covered Call trade profit. The stock has traded such that I've bought this option which makes $4,600 or 12.89% return. |
| 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 |
| Jul-23 | $90.63 | $90.00 | $6.70 |
| Date Closed | Days ON | Buy Back | Cash Flow |
| Aug-21 | 29 | -$31.40 | $4,600.00 |
| CoC% |
| 12.89% |
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| DETAILS FOR THE 99 DELTA CALL OPTION | SOLD |
| Date Open | 99 Delta Strike | 99 Delta Cost | 99 Delta Total Cost |
| Jul-23 | $50.00 | $55.00 | -$35,700.00 |
| Date Closed | Days HELD | 99 Delta Sold | 99 Delta Total Sold |
| Aug-21 | 29 | $65.00 | $65,000.00 |
| 99 Delta Profit/Loss |
| $29,300.00 |
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| UNIQUE TRADE IDENTIFIER | GGLL906.7 |
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| CLOSEOUT TOTALS / BREAKDOWN BY STEP |
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| PAID FOR 99 DELTA | -$35,700.00 |
| SOLD 99 DELTA | $65,000.00 |
| TOTAL COVERED CALL PREMIUMS COLLECTED | -$24,700.00 |
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| TOTAL CASH FLOW | $4,600.00 |
| CASH ON CASH % +/- | 12.89% |
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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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| 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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