Opening (IRA): TQQQ August 16th 73 Monied Covered Call

7月16日

... for a 70.80 debit.

Comments: High IV at 55%. Buying a one lot and selling a -75 call against in the August 16th monthly to emulate the delta metrics of a 25 delta short put, but with built-in short call defense. I looked at doing something in the 45 DTE wheelhouse, which would be the August 30th expiry, but it was less liquid than the monthly, so opted to go shorter duration, with the plan being to roll out to the September monthly should we get further weakness and/or a test of 73. Otherwise, I'll look to just take profit at my standard 50% max.

Metrics:

Buying Power Effect/Break Even: 70.80
Max Profit: 2.20
ROC at Max: 3.11%
50% Max: 1.10
ROC at 50% Max: 1.55%

7月26日

交易進行

Rolled the 73 short call to the Sept 20th 71 for a 2.43 credit (a credit that exceeds the width of strike improvement). Break even now 68.37; 2.63 max; 3.85% ROC at max.

8月6日

交易進行

Rolled the Sept 20th 71 short call to the Dec 20th 68 for a 3.67 (a credit that exceeds the width of strike improvement) on strength today. 64.70 break even; 3.30 max; 5.10% ROC at max.

Unfortunately, there isn't an October monthly currently available (or a November), so had to go out to Dec.

9月30日

註釋

9/25 Dividend: 0.230214/share. 64.47 break even (with divvies).

11月8日

手動結束交易

Closing here a little short of 50% max. Closed for a 66.21 credit; 1.74 ($174) profit (with divvies). Now out of my TQQQ position.