Opening (IRA): TQQQ Sept 20th 63 Monied Covered Call... for a 59.60 debit.
Comments: High IVR/high IV at 68.7/63.1%. Selling the -75 delta call against stock to emulate the delta metrics of a 25 delta short put, but with the built-in defense of the short call.
Additionally, adding at strikes/break evens better than what I've current got on (the August 16th 73 covered calls; break even 70.80).
Metrics:
Buying Power Effect/Break Even: 59.60
Max Profit: 3.40
ROC at 50% Max: 5.70%
50% Max: 1.70
ROC at 50% Max: 2.85%
Will generally look to take profit at 50% max; roll the short call out for duration on side test.