I originally entered an SPY Covered Call to experience chasing an ITM call higher in SPY.
Originally buying SPY at $521.59 and selling 500 call was for max protection against any near term drops.
The original Max gain of $2.85/share translated into 0.18% gain per week against the $497.15 cash capital required to take the trade.
Currently, with two dividends distributed, the trade is surprisingly still a 0.17% per week max gain trade, which translates to 8.86% per year.
SPY would fall almost 12% by 2/28/25 and I still make max gain of .17% per week.
And a 17% fall in SPY would be required to wipe out all gains for this trade.
Originally buying SPY at $521.59 and selling 500 call was for max protection against any near term drops.
The original Max gain of $2.85/share translated into 0.18% gain per week against the $497.15 cash capital required to take the trade.
Currently, with two dividends distributed, the trade is surprisingly still a 0.17% per week max gain trade, which translates to 8.86% per year.
SPY would fall almost 12% by 2/28/25 and I still make max gain of .17% per week.
And a 17% fall in SPY would be required to wipe out all gains for this trade.
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