Opening (IRA): TQQQ Oct 18th 59 Monied Covered Call
Updated
... for a 56.10 debit.
Comments: This isn't at a lower strike than what I currently have on, but I'm (somewhat) fine with it, since I'm still below what I have in mind to be maximally deployed in this instrument.
Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 56.10
Max Profit: 2.90
ROC at Max: 5.17%
50% Max: 1.45
ROC at 50% Max: 2.58%
Will generally look to take profit at 50% max, roll out in-profit short call for duration and credit.
Comments: This isn't at a lower strike than what I currently have on, but I'm (somewhat) fine with it, since I'm still below what I have in mind to be maximally deployed in this instrument.
Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 56.10
Max Profit: 2.90
ROC at Max: 5.17%
50% Max: 1.45
ROC at 50% Max: 2.58%
Will generally look to take profit at 50% max, roll out in-profit short call for duration and credit.
Trade active
Short call at 50% max roll ... . From the Oct 18th 59 to the Dec 20th 53 for a 6.42 credit; 49.68 break even.Note
9/24 Dividend: 0.230214/share; 223.02/ONE lot. Break even (with divvies): 49.45.Trade closed manually
Closed for a 51.11 credit; 1.66 ($166) profit (with divvies). Still have the Dec 58's and 68's on.
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