Opening (IRA): USO December 20th 66 Covered Call
Updated
... for a 64.74 debit.
Comments: Adding at strikes/break evens than what I currently have on ... . Selling the -75 call against long 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: 64.74
Max Profit: 1.26
ROC at Max: 1.95%
50% Max: .63
ROC at 50% Max: .97%
Will generally look to take profit at 50% max; roll out call on test.
Comments: Adding at strikes/break evens than what I currently have on ... . Selling the -75 call against long 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: 64.74
Max Profit: 1.26
ROC at Max: 1.95%
50% Max: .63
ROC at 50% Max: .97%
Will generally look to take profit at 50% max; roll out call on test.
Trade closed: target reached
50% max close for a 65.37 credit; .63 profit. Still have the Dec 20th 68 on.
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