Opening (IRA): SOXL March 21st 20 Covered Call... for an 18.21 debit.
Comments: Adding to my current position at strikes better than what I have on, selling the -75 delta call against shares to emulate the delta metrics of a 25 delta short put, but with built-in short call defense.
Metrics:
Buying Power Effect/Break Even: 18.21
Max Profit: 1.79
ROC at Max: 9.83%
50% Max: .90
ROC at 50% Max: 4.91%
Will generally look to take profit at 50% max, add at intervals assuming I can get in at strikes better than what I currently have on, and/or roll out short call if my TP is not hit.
