The Poor Man’s Covered Call (PMCC) is a covered call writing-like strategy where a LEAPS options acts as a surrogate for a long stock or ETF position. The time-value component of the LEAPS price is a key factor in determining how we should structure our initial PMCC trades.
The BCI PMCC Calculator will do all the legwork for us in making these trade decisions. A real-life example with SPY is used to show both an inappropriate and an appropriate trade.
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