Opening (IRA): IWM August 30th 193 Monied Covered Call

2024年7月16日

... 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%

2024年7月19日

交易進行

As with my other broad market monied covered calls, rolling down and out from the August 30th 193 to the Sept 20th 192 for a 1.93 credit. Break even: 189.28; 2.72 max, 1.44% ROC at max.

I do not like to roll out monied CC's as a general rule, since they are amenable to max profit; I generally opt instead to take profit and re-up. However, my ROC at max for this particular setup wasn't great, the short calls were in profit, the IV has ramped up here quite a bit, so I'm comfortable with extending duration by a couple of weeks to make these trades potentially more productive.

2024年7月26日

註釋

Unlike my other broad market monied covered calls, leaving my IWM alone. The short calls aren't in profit and the delta metrics remain in pretty good shape at the moment with this up move.

2024年8月16日

交易進行

The short call is in profit, and I'm rolling down and out to the October 18th 188 for a 4.55 credit (a credit that exceeds the width of "strike destruction"), resulting in a break even of 184.73. Secondarily, looking to pick up the Sept divvy (the last distribution was .56). I'll know the sell-off is over when the short call goes red and stays red ... . This is more about cap preservation than it is about ROC %-age (which isn't stellar, even after the rolls).

3.27 max; 1.77% ROC at max; net delta 15.37.

2024年8月26日

交易結束：目標達成

Hit 50% max, closing for a 186.37 credit. 1.64 ($164) profit. I'll look to re-up in the October cycle here shortly.