Opening (IRA): QQQ Nov 15th 420 Covered Call
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... for a 415.50 debit.
Comments: After taking off my Nov 415 covered call in profit (See Post Below), re-upping here, but at a slightly higher strike (there are only five-wides available). The 420 is at the -87 delta, so this is less aggressive than I usually do (-75 delta call). However, I've already booked profit in the November cycle, so am fine with getting what is kind of a weak sauce ROC here with plenty of "room to be wrong," particularly with the elections coming up.
Metrics:
Buying Power Effect/Break Even: 415.50/share
Max Profit: 4.50 ($450)
ROC at Max: 1.08%
50% Max: 2.25 ($225)
ROC at 50% Max: .54%
Will generally look to take profit at 50% max, roll out the short call on side test/IV expansion.
Comments: After taking off my Nov 415 covered call in profit (See Post Below), re-upping here, but at a slightly higher strike (there are only five-wides available). The 420 is at the -87 delta, so this is less aggressive than I usually do (-75 delta call). However, I've already booked profit in the November cycle, so am fine with getting what is kind of a weak sauce ROC here with plenty of "room to be wrong," particularly with the elections coming up.
Metrics:
Buying Power Effect/Break Even: 415.50/share
Max Profit: 4.50 ($450)
ROC at Max: 1.08%
50% Max: 2.25 ($225)
ROC at 50% Max: .54%
Will generally look to take profit at 50% max, roll out the short call on side test/IV expansion.
Nota
On a side note, my IWM and SPY positions aren't quite yet profitable to the extent I would like, so just leaving them alone for now ... .Dagangan aktif
With my short call in profit, rolling the Nov 15th 420C out to the Dec 20th 420 for a 3.78 credit. 411.72 break even; 8.28 max; 2.01% ROC at max. As with my IWM position, just looking to milk a little more out of the position running into elections/year end, after which I will probably "resume regularly scheduled programming."Dagangan ditutup secara manual
Out ... for a 416.97 credit. 5.25 ($525) profit.
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