MAX RETURNS: Record Poor Man’s Covered Calls in the Wheel Options Tracker
Learn step-by-step how to log transactions for a Poor Man’s Covered Call in the Drawbridge Finance Wheel Tracker.
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A Poor Man's Covered Call is a lower-cost alternative to the traditional covered call strategy, allowing you to control a stock's movement with options instead of buying shares. This tutorial simplifies tracking your trades, helping you manage positions and measure performance efficiently. Perfect for options traders aiming to maximize insights—watch now to improve your tracking strategy!
A call diagonal trade, also known as a diagonal call spread, is an options trading strategy that combines aspects of both a calendar spread and a vertical spread. Here’s a breakdown:
Setup: In a call diagonal, you purchase a long-term call option (farther expiration date) and sell a shorter-term call option (closer expiration date) at a different, often higher, strike price.
Goal: This strategy aims to take advantage of time decay on the short call while capturing potential gains on the long call if the stock moves favorably.
Market Outlook: It’s best suited for a moderately bullish outlook on the stock or asset. You want some movement upward in the stock price, but not too much too fast.
This strategy can provide profit from time decay on the short call, premium income, and potential upside from the long call if the stock price rises gradually.
0:00 Performance
1:15 Create a new spreadsheet tab
1:52 Trade Alert in Discord
3:20 Recording the transactions in the sheet
6:20 Worksheet hack to record "long call"
7:40 Hack to close the "long call"
8:54 Summary of the trade
9:10 Closing the trade
9:56 Rename the Spreadsheet Tab
10:30 How to a get the sheet!
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Levi Woods
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