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Moniedcoveredcall

Opening (IRA): USO Nov 15th 63 Covered Call... for a 61.27 debit. Comments: Adding to my USO position at strikes better than what I currently have on (the Nov 15th 67's and the Dec 20th 69's). Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 61.27/share Max Profit: 1.73 ($173) ROC at Max: 2.82% 50% Max: .87 ($87) ROC at 50% Max: 1.41% Will generally look to take profit at 50% max, roll out short call on side test.
AMEX:USOLong
by NaughtyPines
Opening (IRA): QQQ October 18th 430 Monied Covered Call... for a 424.60 debit. Comments: Re-upping in the Q's after profit taking ... . As with my IWM position, I'm not being as aggressive as I usually am from a delta standpoint. This is because I've already made money in the cycle and want to give myself a little more room to be wrong since we've had somewhat of a bodice ripper from early August lows. Selling the -84 short call against stock, resulting in a setup with a net delta of around 16. Metrics: Buying Power Effect/Break Even: 424.60 Max Profit: 5.40 ROC at Max: 1.27% 50% Max: 2.70 ROC at 50% Max: .64% Will generally look to take profit at 50% max/roll out in-profit short call if there's a sell-off and the setup's net delta converges on +30.
NASDAQ:QQQLong
by NaughtyPines
1
Opening (IRA): MSTR Nov 15th 121 Monied Covered Call... for a 111.20 debit. Comments: High IV (88.8%). Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put with the built-in defense of the short call. Back into MSTR after taking off my previous November setup in profit. (See Post Below). This has earnings on 11/6, so I'll be looking to take it off before then ... . Metrics: Buying Power Effect/Break Even: 111.20 Max Profit: 9.80 ROC at Max: 8.81% 50% Max: 4.90 ROC at 50% Max: 4.41%
NASDAQ:MSTRLong
by NaughtyPines
Opened (IRA): MSTR October 18th 119 Monied Covered Call... for a 110.75 debit. Comments: I don't do a ton of single name in my IRA, but with earnings in the rear view and 30-day IV at 81.7%, taking a "poos and giggles" trade here, selling the -75 delta call against shares to emulate the delta metrics of a +25 delta short put, with the built-in defense of the short call. Metrics: Buying Power Effect/Break Even: 110.75 Max Profit: 8.25 ROC at Max: 7.45% 50% Max: 4.13 ROC at 50% Max: 3.72%
NASDAQ:MSTRLong
by NaughtyPines
Opened (IRA): EWW Oct 18th 50 Monied Covered Call... for a 49.02 debit. Comments: Selling the -75 call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. The IV isn't fantastic here at 29.8%, but the ROC is kind of what I'm minimally looking for out of this sort of play, so putting on a small position here, particularly since the underlying isn't all that far off its 52-week low. Metrics: Buying Power Effect/Break Even: 49.02 Max Profit: .98 ROC at Max: 2.0% 50% Max: .49 ROC at 50% max: 1.0% Generally, will look to take profit at 50% max, roll short call for duration and credit on side test.
AMEX:EWWLong
by NaughtyPines
Opening (IRA): SPY August 30th 486 Covered Call... for a 481.76 debit. Comments: Re-upping in SPY in slightly longer duration, but with the short call at about the same delta as the one I took off, resulting in a lower buying power effect and break even with the primary goal being to milk a little more out of August before moving onto Sept. Again, un-sexy metrics as a standalone trade: Buying Power Effect/Break Even: 481.76 Max Profit: 4.24 ROC at Max: .880% 50% Max: 2.12 ROC at 50% Max: .440%
AMEX:SPYLong
by NaughtyPines
Opening (IRA): XLU October 18th 71 Monied Covered Call... for a 70.09 debit. Comments: For lack of something better to do, looking to grab the Sept divvy if I can. Selling the -73 delta call against long stock to emulate a ~25 delta short put with the built-in defense of the short call. This isn't the greatest entry given price action, but am willing to add should the market afford me an opportunity to do so at strikes better than the 71 ... . The last distribution was .55/share; $55/one lot. Metrics: Buying Power Effect/Break Even: 70.09 Max Profit: .91 ($91) (excluding dividends); 1.46 (including divvies, assuming a .55/share distribution) ROC at Max: 1.30% 50% Max: .46; 1.01 (including divvies) ROC at 50% Max: .65% (1.44% including divvies)
AMEX:XLULong
by NaughtyPines
Opening (IRA): QQQ August 30th 405 Monied Covered Call... for a 401.49 debit. Comments: As with my IWM monied covered call, re-upping in QQQ in 45 days' duration with the short call at about the same delta it was in the setup I just took off with the basic goal being to milk a little bit more out of August without taking on additional risk. Here, re-upping at about the same short call delta actually results in a lower buying power effect and a lower break even. Similar to the IWM setup, however, the metrics aren't sexy here as a standalone trade: Buying Power Effect/Break Even: 401.49 Max Profit: 3.51 ROC at Max: .875% 50% Max: 1.76 ROC at 50% Max: .437% Generally, 50% max take profit; roll out the short call for duration and a credit on side test.
NASDAQ:QQQLong
by NaughtyPines
2
Opening (IRA): IWM August 30th 193 Monied Covered Call... for a 191.21 debit. Comments: I'm not quite ready to move out to the September monthly due to its duration, so doing a little something different here to attempt to milk a smidge more out of August. After having taken off my longer-dated position in profit, re-upping in 45 DTE with the short call at about the exact same delta it was at previously (around the -88). This doesn't result in really awesome ROC metrics, but I have already grabbed the June divvy and realized gains in the August cycle, so am just looking for a little more somethin' somethin' without taking on a ton of additional risk before moving out to Sept. As usual, I'll look to take profit at 50% max; roll out for duration on side test. Metrics: Buying Power Effect/Break Even: 191.21 Max Profit: 1.79 ROC at Max: .936% 50% Max: .90 ROC at 50% Max: .468%
AMEX:IWMLong
by NaughtyPines
Opening (IRA): TAN August 30th 38 Covered Call... for a 37.00 debit. Comments: Back into TAN (30-Day IV: 47.6%), selling the -76 call against stock to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Going with the August 30th, 46 DTE contract. Metrics: Buying Power Effect/Break Even: 37.00/share Max Profit: 1.00 ($100) ROC at Max: 2.63% 50% Max: .50 ($50) ROC at 50% max: 1.32% Will generally look to take profit at 50% max/roll the short call for duration on test.
AMEX:TANLong
by NaughtyPines
Opened (IRA): TLT September 20th 89 Monied Covered Calls... for an 87.83/contract debit. Comments: Parking some cap in TLT while I go about "summer things." Selling the -75 call against shares to emulate the delta metrics of a 25 delta long put while having built-in short call defense. Metrics: Break Even/Buying Power Effect: 87.83/contract Max Profit: 1.07/contract (ex. divvies); 1.38/contract (with divvies) ROC at Max: 1.22% (ex. divvies)/1.57% (with divvies) 50% Max: .53/contract (ex. divvies) ROC at Max: .61% (ex. divvies); .96% (with divvies) These metrics assume that I'm only able to grab one divvy (i.e., July). It's possible that I'm able to grab July and August or July, August, and September, which will naturally increase the ROC %-age, but will generally money/take/run at 50% max after at least the July divvy drops. And ... you never know ... It's also possible that TLT might not cooperate and move back toward my short call strike and voila, I've got a poo pile on my hands.
NASDAQ:TLTLong
by NaughtyPines
Opening (IRA): SPY August 16th 498 Monied Covered Call... for a 493.42 debit. Comments: As with my QQQ monied, re-upping in SPY after having taken profit on my August 16th 493. Here, selling the -84 delta call against, which will mean a lower max and a lower ROC %-age. Just looking to potentially milk a little more out of the August cycle (60 DTE), before moving into Sept. Metrics: Buying Power Effect/Break Even: 493.42 Max Profit: 4.58 ROC at Max: .93% 50% Max: 2.29 ROC at 50% Max: .46%
AMEX:SPYLong
by NaughtyPines
Opening (IRA): QQQ August 16th 425 Monied Covered Call... for a 420.39 debit. Comments: After having taken profit on my August 16th 420 CC, re-upping, but at a slightly higher strike ... . The ROC %-age metrics aren't generally what I like to see out of these, but have already realized some gains in the August cycle, so am fine if the ROC %-age isn't stellar here. I'm also selling the -85 delta call against, as opposed to my usual -75. Metrics: Break Even/BPE: 420.39 Max Profit: 4.61 ROC at Max: 1.10% 50% Max: 2.30 ROC at 50% Max: .55%
NASDAQ:QQQLong
by NaughtyPines
Opened (IRA): IWM August 16th 191 Monied Covered Call... for a 187.46 debit. Comments: (Late Post). Sold the -75 call against a one lot to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. Metrics: Buying Power Effect/Break Even: 187.46. Max Profit: 3.54 ($354) ROC at Max: 1.89% ROC at 50% Max: .94% Will generally look to take profit at 50% max on the entire setup (stock + short call) as a unit, but won't hesitate to roll out the short call if in profit to keep my break even at or near where the underlying is currently trading.
AMEX:IWMLong
by NaughtyPines
Opened (IRA): XLE August 16th 85 Monied Covered Call... for an 83.77 debit. Comments: Some of the only red on my ETF board ... . Here, selling the -75 delta call against a one lot to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call. There is also a divvy to be had some time in June, with the last distribution being .73. Metrics: Buying Power Effect/Break Even: 83.77 Max Profit: 1.23 ($123) ROC at Max: 1.47% 50% Max: .62 ($62) ROC at 50% Max: .74%
AMEX:XLELong
by NaughtyPines