Opening (IRA): TQQQ Oct 18th 59 Monied Covered Call
... 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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.