Opening (IRA): USO December 20th 65 Covered Call
... for a 62.41 break even.
Comments: High IVR/IV (79/51) plus weakness. Adding a rung to my USO position out in December at break evens better than what I currently have on. 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.
Metrics:
Buying Power Effect/Break Even: 62.41
Max Profit: 2.59
ROC at Max: 4.15%
50% Max: 1.30
ROC at 50% Max: 2.07%
Will generally look to take profit at 50% max; look to roll out the short call on test.
Comments: High IVR/IV (79/51) plus weakness. Adding a rung to my USO position out in December at break evens better than what I currently have on. 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.
Metrics:
Buying Power Effect/Break Even: 62.41
Max Profit: 2.59
ROC at Max: 4.15%
50% Max: 1.30
ROC at 50% Max: 2.07%
Will generally look to take profit at 50% max; look to roll out the short call on test.
Trade fermée: cible de profit atteinte
Hit 50% max at open, closing for a 63.71 credit. 1.30 ($130) profit. Still have the Dec 20th 63's and 69's on. Counterintuitive that the 63 didn't hit first, but it's deeper ITM and somewhat illiquid ... .
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