How To Do A Poor Man's Covered Call (Debit Spreads)

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Let's take an updated look at my Robinhood Investing Portfolio. Inside this video I will show you all the stocks I own inside the Robinhood app as well as the 11 options plays that I have open. These include 2023 Long Calls, Cash Secure Puts, Covered Calls, The Wheel Strategy, as well as a break down of the Poor Mans Covered Call.

This video is all about the Poor Man's Covered Call. To be honest, more people should be selling covered calls but aren't. This is usually because they don't know how to or because of the amount of capital that is needed to do so. You need to hold 100 shares of a stock to make a Covered Call against it and collect premium. This second issue is solved by the Poor Man's Covered Call and the amount of capital needed is a fraction of that of a standard covered call.

In this video I will full break down the Covered Call and the LEAPS options trade that I made to set up the poor man's covered call. These are actual trades that I made today to generate more that $250 in options premiums.

The first step to doing a poor mans covered call is to buy a call option with an expiration of 6 months or more. This is just a rule of thumb that I use. I also want this call to be with a stock that has a pretty steady upward trend and wont shoot to the moon. I look for a delta of .7 or higher when deciding how in the money I should go. The further the expiration and the deeper in the money you go, the more premium you will have to pay to open this option.

Next you will use that long call as leverage to make a covered call against it. You do not want this to get assigned, but it may. I choose a delta for this option of .3 or smaller. This allows me to collect premium upon the sale of the covered call which lowers my net premium paid on my long call as well as lowering my break even price.

Check out the video to see the max profit and losses from this strategy as well as what happens if your short call get assigned.
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DISCLAIMER: The content discussed in these videos are solely my opinion and should never be used as financial advice. This channel is for entertainment purposes only. Make sure to consult with a professional before making money decisions. This video and description contain affiliate links, which means that if you click on one of the product links, I’ll receive a small commission; all of which helps grow the channel! Thank you for your support!

Видео How To Do A Poor Man's Covered Call (Debit Spreads) канала Brad Finn