| All rights reserved - Core Position Trading, LLC-2024 | |||||||||
 | NEW PMCC TRADES | ||||||||
| STANDARD POOR MAN'S COVERED CALL TRADE IS NOW | ROLLED | ||||||||
Today I ROLLED (Closed then Opened) a CCW trade basically at once and have consolidated the trades here. | TIME AND DATE STAMP | ||||||||
| Monday, July 1, 2024 | |||||||||
| CLOSED ORIGINAL CCW TRADE > DETAILS PREMIUM PROFIT ONLY | |||||||||
| United Parcel | UPS |  | |||||||
| TRADE 1 > COLLECTED | TRADE 2 > PROJECTIONS | ||||||||
| -$1,340.00 | $2,830.00 | ||||||||
| CLOSED CCW TRADE DETAILS | |||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (OPEN) | |||||||||
| On Mar-14 I placed this original trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Days | Premium was | ||||||
| $134.16 | $136.00 | -15 | $2.86 | ||||||
THIS WAS THE TRADE WITH THE PROFIT PROJECTIONS | Contracts | Projected Cash Flow | |||||||
| 10 | $2,860.00 | ||||||||
| ORIGINAL CCW TRADE DETAILS BELOW (CLOSED) | |||||||||
| Premium was | Buy Back was | Total Cash Flow I made | |||||||
| $2.86 | -$4.20 | -$1,340.00 | |||||||
AS THE TRADE PROGRESSED, THE OPTION FELL, OPTION PROFIT WAS AVAILABLE SO I DECIDED TO CLOSE THIS TRADE. | -50% Rule? | Percentage Down | |||||||
| NO | 46.85% | ||||||||
| REASONING FOR BUYING BACK THIS CCW OPTION (FINAL) | |||||||||
| WHY I CLOSED this PMCC Trade on > United Parcel Service, Inc. (UPS) | |||||||||
| The stock rallied and not wanting to deal with a stock moving too high above my $136 strike (remember, FEDEX had blowout earnings and UPS popped +3 ..) using a 0.74 Delta LEAPS , I bought back to either ROLL or flatout sell out of the position , so we lose money here but will hope to make it up with another ROLL or sell of the LEAPS | |||||||||
| Details of the option buyback | |||||||||
| The option has fallen such that its down some -46.85% at the time of this buy back and with (43) day left > To see the full blog post write-up > Go to the Real Time trade blow and type in the UT# in the top right Search area > UPS1362.86 | |||||||||
| UNIQUE CLOSED TRADE IDENTIFIER | UPS1362.86 | ||||||||
 | CLOSED TRADE ENDS | NEW TRADE BEGINS |  | |||||||
| ROLLED CCW TRADE DETAILS | |||||||||
| NEW CCW TRADE (ROLLED) DETAILS BELOW (OPEN) | |||||||||
| Today, Jun-14 I placed this NEW CCW trade and below are the details of that trade. | |||||||||
| Strike Price was | Strike Price | Expire | Days | ||||||
| $136.15 | $139.00 | Jul-19 | 18 | ||||||
| NEW Premium | Contracts | Projected Cash Flow | |||||||
| $2.83 | 10 | $2,830.00 | |||||||
| Projected CoC % | |||||||||
| 18.41% | |||||||||
| REASONING FOR ROLLING THIS MONEY VS JUST SITTING (FINAL) | |||||||||
| WHY I OPENED this PMCC Trade on > United Parcel Service, Inc. (UPS) | |||||||||
| This trade on UPS starts out as a > (18) day trade where Im trying to capture anywhere from 3% - 5% for a monthly Covered Call Trade. This trade will make $2830 dollars which represents 18.41% on money invested. | |||||||||
| Further commentary and feelings on this trade | |||||||||
| After making the mistake of buying back my last option and not selling the LEAPS , trying to ROLL the option and got caught as the stock fell , I decided to wait and wait ... finally this morning Ive decided to just sell premium and see where this goes ... this CC option falls right before earnings , Im guessing my shares are taken | |||||||||
| With this new Strike Price, what is the projected LEAPS Value? | |||||||||
| If this trades as its projected, I will make money on the LEAPS Call Option > IF my shares are taken at this strike price, my expected LEAPS value will be $15.476345 , my cost basis is $-15.37 | |||||||||
| UNIQUE NEW TRADE IDENTIFIER | UPS1392.83 | ||||||||
| LEAPS CALL OPTION INFORMATION | | |||||||
| LEAPS CALL OPTION | |||||||||
| DETAILS OF THE LEAPS CALL OPTION I PURCHASED | |||||||||
| Below is the LEAPS Call Option purchase information. The performance part is based on a DELTA MOVE in the LEAPS vs the ACTUAL stock move so the numbers are as close as I can get them as DELTAs can change | |||||||||
| Symbol | Expiration | Strike | Investment | ||||||
| UPS | Oct2024 | $125.00 | $15,370.00 | ||||||
| Contracts | Controlling shares | Delta | Paid? | ||||||
| 10 | 1000 | 0.7571 | -$15.37 | ||||||
| The Current LEAPS value > | Current Value | $14.00 | |||||||
| I AM CURRENTLY (+) or (-) this amount starting this trade > | $29.37 | ||||||||
| The LEAPS value will move higher > | Projected Value | $15.48 | |||||||
| The 'Projected Value' is based on where the LEAPS is valued at the start of this trade and where the LEAPS value will be at the strike price. | |||||||||
| USING THIS LEAPS CALL OPTION, HOW MUCH PREMIUM ? | |||||||||
| Below are all of the Covered Calls I have sold while owning this position. It does includes the current active Covered Call Trade. | |||||||||
| Date Opened | Date Closed | Cash Flow | CoC% +/- | ||||||
| 5/29/2024 | Jun-13 | $950.00 | 6.18% | ||||||
| 6/14/2024 | Jul-12 | -$1,340.00 | -8.72% | ||||||
| 7/1/2024 | Jul-19 | $2,830.00 | 18.41% | ||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $0.00 | 0.00% | ||||||||
| $2,440.00 | 15.88% | ||||||||
| 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 LEAPS Call Options. 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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