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 | NEW ROLLED CCW | ||||||||||||||||||
| STANDARD COVERED CALL TRADE(S) ARE NOW | ROLLED | ||||||||||||||||||
| THE CAMPAIGN TRACKER NUMBER IS > _ | C#_ELIL_280 | ||||||||||||||||||
| TRADE 1 > COLLECTED | TRADE 2 > PROJECTIONS | ||||||||||||||||||
| $1,200.00 | $2,400.00 | ||||||||||||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (OPEN) | |||||||||||||||||||
| On Aug-27 I placed this original trade and below are the details of that trade. | |||||||||||||||||||
| Stock Price - placed | Date | Expire WAS | Days On | ||||||||||||||||
| $29.28 | Aug-27 | Sep-18 | 22 | ||||||||||||||||
| Strike Price | Contracts | BUY BACK | Cash Flow | ||||||||||||||||
| $28.00 | 20 | -$0.10 | $1,200.00 | ||||||||||||||||
Current Status > Down on the Shares | Cash Invested? | CoC% | |||||||||||||||||
| $32,800.00 | 3.66% | ||||||||||||||||||
AS THE TRADE PROGRESSED, THE OPTION FELL, OPTION PROFIT WAS AVAILABLE SO I DECIDED TO CLOSE THIS TRADE. | -50% Rule? | Percentage Down | |||||||||||||||||
| YES | 85.71% | ||||||||||||||||||
| REASONING FOR BUYING BACK THIS CCW OPTION (FINAL) | |||||||||||||||||||
| WHY I CLOSED this CCW Trade on > ELIL | |||||||||||||||||||
| just closing early as I know I will be ROLLING this and just want to get this on the books for Oct-16th > buying back early in on expire day just to roll the trade for next week selling more time > the stock has fallen such that this option is down -85.71% 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. | |||||||||||||||||||
| UNIQUE CLOSED TRADE IDENTIFIER | ELIL282.1 | ||||||||||||||||||
 | CLOSED TRADE ENDS | NEW TRADE BEGINS |  | |||||||||||||||||
| NEW CCW TRADE (ROLLED) DETAILS BELOW (OPEN) | |||||||||||||||||||
| Today, Sep-18 I placed this NEW CCW trade and below are the details of that trade. | |||||||||||||||||||
| Strike Price was | Strike Price | Expire | Days | ||||||||||||||||
| $27.26 | $28.00 | Oct-16 | 28 | ||||||||||||||||
| NEW Premium | Contracts | Projected Cash Flow | |||||||||||||||||
| $1.20 | 20 | $2,400.00 | |||||||||||||||||
| Projected CoC % | |||||||||||||||||||
| 5.6% | |||||||||||||||||||
| REASONING FOR ROLLING THIS MONEY VS JUST SITTING (FINAL) | |||||||||||||||||||
WHY I OPENED this CCW Trade on > ELIL | |||||||||||||||||||
ELIL (2x leveraged ETF Eli Lilly) Just as I mentioned in my video yesterday, we’re going to go ahead and roll this Eli Lilly trade. I bought back my September near-term covered call for just $0.10, locking in approximately $1,200 in premium profit. We then closed the 99-delta long call that was supporting the trade, basically at breakeven — no meaningful profit and no meaningful loss on that side of the position. Next, we bought the October 16th $21 strike 99-delta call for $6.40. Making this adjustment added approximately $0.14 to the trade, moving my stock-equivalent cost basis from $28.00 to $28.14. Now the plan is to sell the October 16th $28 or $29 covered call. If I choose the $28 strike, I’m essentially willing to sacrifice that additional $0.14 in exchange for potentially getting completely out of the trade while having collected two incredible rounds of premium profit. Sometimes the goal isn’t to squeeze every last penny out of the position. Collect the premium, manage the trade, protect the capital > > I rolled my 99 Delta long call option, selling the Sep - 18 and buying the Oct - 16 ADDING the time value cost to my share price exit cost basis which is now $28.14 > C#_ELIL_280 | |||||||||||||||||||
| UNIQUE NEW TRADE IDENTIFIER | ELIL281.2 | ||||||||||||||||||
| DETAILS FOR THE 99 DELTA CALL OPTION | |||||||||||||||||||
| Contracts | 99 Delta Strike | 99 Delta Cost | 99 Delta Total Cost | ||||||||||||||||
| 20 | $21.00 | $7.14 | $14,280.00 | ||||||||||||||||
| 99 Delta Expire | CURRENT VALUE | ||||||||||||||||||
| Oct - 16 | $6.40 | ||||||||||||||||||
Current Status > Down on the Position > B/E = $28.14 | CURRENT VALUE | ||||||||||||||||||
| $12,800.00 | |||||||||||||||||||
 | 100 SHARE TRADE IDEA | | |||||||||||||||||
| BUY SHARES > SELL CALL | |||||||||||||||||||
| 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 | ||||||||||||||||
| $27.26 | $28.00 | Oct-16 | $1.20 | ||||||||||||||||
| 100 Shares | Invested | IF Sold | Your Projected Profit | ||||||||||||||||
| 100 | $2,726.00 | $2,800.00 | $194.00 | ||||||||||||||||
| Cash on Cash % | |||||||||||||||||||
| 7.12% | |||||||||||||||||||
 | IRA > NO DIVIDEND TREE OR TAX BUCKET | | |||||||||||||||||
| LETTING MONEY BUILD THE ACCOUNT SIZE | |||||||||||||||||||
| 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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| 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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