Covered Calls - AMAZING Option Trading Strategy - New Twist!

Summary

This video introduces the 'Poor Man's Covered Call', an efficient strategy for stock and option traders with limited capital. It involves buying a deep in-the-money call option instead of actual shares, reducing upfront costs while still capturing most of the stock's price appreciation. The strategy is explained through an example using AMD stock, demonstrating how this approach can yield a higher return on investment with less risk compared to traditional covered calls.

Takeaways

• 📈 The 'Poor Man's Covered Call' is an option trading strategy that allows traders to efficiently use their cash and potentially get a better return on investment with less upfront capital.
• 🤑 Traditional covered calls involve owning at least 100 shares of stock and selling a call option against those shares to generate income and set a potential sell point.
• 💡 The strategy is called the 'Poor Man's Covered Call' because it substitutes the need to own 100 shares of stock with a deep in-the-money call option, which is significantly cheaper.
• 💰 By purchasing a deep in-the-money call option with a high Delta (at least 90%), traders can capture almost all of the price appreciation of the stock with less upfront investment.
• 🔄 If the stock price doesn't rise to the strike price of the sold call option, the trader keeps the premium received from selling the call and can roll over to another call option contract.
• 📉 The deep in-the-money call option acts similarly to owning the stock itself but at a fraction of the cost, reducing the risk of a large upfront investment.
• 🚀 The potential downside of this strategy is that if the stock price rises significantly, the profit from the call option may be less than if the trader had owned the actual shares.
• 🧮 The return on investment (ROI) is calculated by dividing the gain from the trade by the initial investment, which in the case of the 'Poor Man's Covered Call' can be significantly higher than traditional covered calls.
• 🌐 The script provides an example using AMD stock to illustrate the differences in cost, potential gain, and ROI between traditional covered calls and the 'Poor Man's Covered Call'.
• 📚 The presenter encourages viewers to learn more about options trading and offers resources such as a free 'Put Selling Basics' ebook and webinars for further education.
• 🔗 The video description contains links to recommended books, brokers, and other resources for those interested in enhancing their options trading knowledge and skills.

Q & A

What is a covered call strategy?

A covered call strategy is an options trading strategy where an investor holds a long position in an asset and sells call options on the same asset to generate income. It sets a potential sell point for the stocks in the investor's account.

What is the 'poor man's covered call' strategy?

The 'poor man's covered call' is a variation of the covered call strategy where instead of owning 100 shares of stock, an investor buys a deep in-the-money call option to simulate the stock ownership, which requires less capital upfront.

Why is the strategy called the 'poor man's covered call'?

It's called the 'poor man's covered call' because it allows investors to use less capital to gain exposure to the stock, similar to owning the shares, but at a lower cost.

How does the 'poor man's covered call' differ from traditional covered calls?

In a traditional covered call, an investor must own 100 shares of stock and then sell a call option against those shares. In the 'poor man's covered call', the investor buys a deep in-the-money call option instead of purchasing the shares, and then sells another call option to create the covered call position.

What is the role of the Delta in the 'poor man's covered call' strategy?

The Delta indicates how much the option price will move in conjunction with the stock price. For the 'poor man's covered call', a deep in-the-money call option with a Delta of at least 90% is preferred, ensuring that the option price will move almost in lockstep with the stock price.

Why would an investor choose a deep in-the-money call option for the 'poor man's covered call'?

A deep in-the-money call option is chosen because it behaves similarly to the stock itself but costs significantly less than buying the actual stock, thus requiring less capital and reducing the upfront cost.

What is the potential downside of using the 'poor man's covered call' strategy?

The potential downside is that if the stock price rises significantly above the strike price of the call option sold, the investor may be obligated to sell their shares (or in this case, the equivalent position through the call option) at a lower price than the market value, thus missing out on additional gains.

How does the 'poor man's covered call' strategy impact the investor's return on investment (ROI)?

The 'poor man's covered call' can offer a higher ROI compared to traditional covered calls because it requires less capital upfront, increasing the percentage return based on the lower initial investment.

Can the 'poor man's covered call' be used for long-term stock holding?

Yes, the strategy can be used for long-term stock holding by choosing a call option with a longer expiration date and rolling the sold call options as they expire.

What happens if the stock price does not rise above the strike price of the sold call option?

If the stock price does not rise above the strike price, the sold call option will expire worthless, allowing the investor to keep the premium received from selling the call and potentially sell another call option for a later expiration date.

How can an investor manage the risk associated with the 'poor man's covered call'?

An investor can manage risk by carefully selecting the strike price and expiration date of the call options, monitoring the Delta of the purchased deep in-the-money call option, and rolling the call options strategically.

Outlines

00:00

📈 Introduction to the Poor Man's Covered Call Strategy

This paragraph introduces a stock trading strategy known as the 'poor man's covered call,' which is designed to maximize the use of cash and minimize upfront costs for traders interested in covered calls. The strategy involves selling call options to generate income and set potential sell points for stocks, but instead of owning 100 shares of stock, a deep in-the-money call option is purchased to simulate the stock ownership. The video promises to explain how this approach can offer a better return on investment and how it compares to traditional covered call selling.

05:00

💡 Understanding the Poor Man's Covered Call as an Option Spread

The speaker explains the mechanics of the poor man's covered call, which involves buying a deep in-the-money call option and selling another call option at a different strike price to create an option spread. This approach is cost-effective as the deep in-the-money call option acts similarly to owning the stock but at a fraction of the price. The paragraph delves into the concept of Delta, which indicates how much the option price will move with the stock price, and emphasizes the importance of a high Delta for the deep in-the-money call option.

10:03

💻 Example Comparison: Traditional vs. Poor Man's Covered Call

The paragraph provides a detailed example using AMD stock to compare the traditional covered call strategy with the poor man's covered call. It outlines the costs and potential returns of both strategies, highlighting the significant upfront cash savings and higher return on investment achievable with the poor man's covered call. The example illustrates the calculations involved in determining the effective selling point, profit, and return on investment for each strategy.

15:04

🚀 Enhancing Returns with the Deep In-The-Money Call Option

This section further explores the benefits of using a deep in-the-money call option instead of purchasing actual shares. It explains how the cost basis for the call option is determined and how the strategy can lead to a substantial increase in return on investment. The paragraph also discusses the risk reduction aspect of the poor man's covered call, as it requires less upfront capital, thus lowering the potential loss if the stock price declines.

20:07

🌐 Maximizing Efficiency with the Poor Man's Covered Call

The final paragraph wraps up the video by emphasizing the efficiency of using options contracts over stocks, as demonstrated by the poor man's covered call strategy. It suggests that the saved capital can be invested elsewhere to generate additional income. The speaker also promotes the Smart Option Seller website, offering resources such as a free 'Put Selling Basics' ebook and a webinar for those interested in learning more about options trading. The paragraph concludes with a call to action for viewers to engage with the content and reach out for further assistance.

Keywords

💡Stock Trader

A stock trader is an individual or entity that engages in the buying and selling of stocks. In the context of the video, the term refers to the target audience who might be interested in learning about trading strategies such as covered calls. The script discusses strategies that stock traders can use to optimize their investments.

💡Covered Call

A covered call is an options strategy where an investor holds a long position in an asset and sells call options on the same asset to generate income. The video's theme revolves around an efficient way to perform this strategy, known as the 'poor man's covered call,' which allows traders to use less capital upfront.

💡Poor Man's Covered Call

The 'poor man's covered call' is a variation of the covered call strategy that involves using a deep in-the-money call option instead of owning the actual stock. This approach is highlighted in the video as a way to reduce upfront costs and increase return on investment while still benefiting from stock price appreciation.

💡Option Premium

The option premium is the price paid by the buyer to the seller of an option contract. In the video, it is explained that by selling a covered call, the trader receives an option premium upfront, which is a form of income and also represents the potential selling price of the stock if the option is exercised.

💡Call Option Contract

A call option contract gives the buyer the right, but not the obligation, to buy an underlying asset at a specified price within a specific time period. The script mentions that one call option contract typically represents 100 shares of stock, and selling this contract is part of the covered call strategy.

💡Deep In-The-Money (ITM) Call Option

A deep in-the-money call option is one where the strike price is significantly lower than the current market price of the stock. The video emphasizes using such options in the 'poor man's covered call' strategy because they act similarly to owning the stock but at a lower cost.

💡Delta

Delta in options trading measures the sensitivity of an option's price to changes in the price of the underlying asset. The script specifies looking for a delta of at least 90% for a deep ITM call option, indicating that the option price will move nearly in tandem with the stock price.

💡Option Spread

An option spread is a strategy that involves buying and selling options simultaneously to create a position with limited risk. The 'poor man's covered call' is essentially an option spread where a deep ITM call is bought, and a covered call is sold against it.

💡Cost Basis

The cost basis of an investment is the original value of an asset, calculated by adding the purchase price and any additional costs. In the video, the cost basis is calculated for the 'poor man's covered call' to determine the break-even point and potential return on investment.

💡Return on Investment (ROI)

Return on investment is a metric used to evaluate the efficiency of an investment. The video script calculates ROI for both traditional covered calls and the 'poor man's covered call' to demonstrate the superior efficiency of the latter strategy.

💡Risk Management

Risk management in trading involves the identification, evaluation, and prioritization of risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events. The video discusses the 'poor man's covered call' as a way to manage risk by reducing the upfront investment and potential loss.

Highlights

Introduction to the 'Poor Man's Covered Call' strategy for stock and option traders.

Efficient use of cash and reduced upfront cost with the 'Poor Man's Covered Call'.

Traditional covered calls explained, including the income generation and potential sell point setting.

How selling a covered call obligates the seller to potentially sell shares at a higher price.

The option premium as upfront cash payment for selling a call option.

Covered call strategy for creating a cash flow and setting future sell points.

The concept of rolling covered calls to maintain share ownership.

The 'Buy Right' strategy for those without 100 shares, combining stock purchase and call selling.

Explanation of the 'Poor Man's Covered Call' using a deep in-the-money call option instead of actual stock.

Deep in-the-money call options act similarly to the stock with significantly lower cost.

Importance of Delta in options trading and how it relates to the movement of the stock price.

Example of AMD stock to illustrate the traditional covered call versus the 'Poor Man's Covered Call'.

Cost comparison between buying 100 shares of stock and buying a deep in-the-money call option.

Calculating the return on investment (ROI) for both traditional and 'Poor Man's Covered Call' strategies.

Risk reduction and increased ROI with the 'Poor Man's Covered Call' strategy.

Strategic use of the saved upfront cash for other investments or savings.

The option to roll the options for extended periods to continue the 'Poor Man's Covered Call' strategy.

Final thoughts on the benefits of the 'Poor Man's Covered Call' for efficient capital use and risk management.

Transcripts

hey if you're a stock or option Trader

and you want to get into doing covered

calls which we've talked about in the

past I'm going to show you a way to use

the covered call more efficiently use

your cash more efficiently spend less

money up front get better return on your

investment it's called the poor man's

covered call so if You' never heard

about it you might want to stick around

and watch this video because it's kind

of an eye-opening way to perform the

covered call strategy so if you want to

learn how to use the strategy stick

around and watch this video and let's

go all right everyone Lelo here from

smart option cell.com trying to help the

community here the trading Community

making these free videos so what we're

talking about today is the smart option

seller Guide to the poor man's covered

call so if you're interested in selling

covered calls you're going to want to

watch this video because because it will

provide you a a different way to use

options with the covered call strategy

now for those of you that might know

selling a covered call is all about

getting some income into your account

and setting a potential sell point for

stocks that you have in your account so

let's just quickly go over what selling

a covered call is all about and then

we'll dive into the strategy of how to

use the poor man's coverboard call so

for those in the know or maybe you don't

know if you have aund at least 100

shares of stock in your account you can

sell one call option contract against

those 100 shares what does that do for

you

well let's just say you bought some

shares at whatever price and and in the

future you're looking to potentially

sell those shares what you can do is by

selling a single call option contract

what you're doing is obligating yourself

to sometime in the future potentially

selling your shares at a higher price

than where you purchase those sh shares

and by selling the call option contract

you're going to be paid cash up front

because someone is willing to pay to

take your shares away from you sometime

in the future and in order to take those

shares away from you they're willing to

pay you some money up front that's

called the option premium so let's just

say you bought a stock at 100 and you're

looking to sell the shares at$ 120 you

can sell $120 strike call option and

what that does is it enters you into an

obligation to sell your shares at 120 if

the stock in fact Rises to 120 above

sometime in the future and if it does

rise to 120 above then you sell your

shares at 120 and you lock in your $20

per share gain plus the money that the

call option buyer paid you up front so a

lot of people use sell and covered calls

as a way to you know create some current

cash flow and to sell and to place a

potential sell point in the future for

your shares but a lot of people don't

actually want to sell their shares they

want to hold on to their shares forever

so they'll sell a call option at a

strike that's way way up high where the

stock really has no chance of getting to

and if the and if the stock doesn't rise

that far the option contract will expire

you get to keep your shares you get to

keep the money that the call option

buyer paid you up front and now you can

sell another call option for another

expiration down the road so what a lot

of people like to do is they like to

just keep rolling their covered calls

throughout the year hoping that the

stock doesn't rise up to the price where

they have to relinquish their shares so

actually you can do that and and it's

worked pretty great for a lot of people

where you sell the call option the stock

doesn't rise option expires sell another

call option get the money stock doesn't

rise that far option expires and you

just wash rinse and repeat and you do

this over and over again and you're

creating this income stream for yourself

so that's the gist of how the cover call

strategy works now if you don't have 100

shares in your account already from some

prior purchase long ago you can do

what's called right here let's look at

this a traditional covered calls used

with 100 shares of stock that you

already have in your account or what you

can do is what's called a buy right

where you buy the 100 shares and you

sell the covered call at the same time

so let's just say you don't have any

shares in your account what you can do

is enter into a buy right where you buy

100 shares and you sell a call option

all in the same transaction a lot of

people do that as well but let's talk

about what the poor man's covered call

is so instead of actually having 100

shares in your account or going out and

buying 100 shares the poor man's covered

call substitutes that stock with a deep

in the- money call option okay so really

what you're going to be doing is that

you're going to be buying a call option

A really deep in the money call option

and I'll explain what that is in a

second and you're going to sell

the covered call against that purchased

call so it's really an option spread

you're going to be buying a call option

at one strike and you're going to sell

another call option at a different

strike price that acts as the covered

call but the thing about the the deep in

the money call option is that it pretty

much is going to act just like the stock

itself so instead of shelling out the

money to buy 100 shares of stock you're

going to buy a call option instead

that's going to cost you aot lot less

money okay so let's just kind of go

through our smart option seller Guide to

the poor men's covered call we'll scroll

down here a little

bit so poorman's covered call

substitutes the stock with a deep inth

the money call option and the stock

price and the and the call option the

deep in the money call option will

pretty much move in lock steps so you

know you're going to get all most of the

price appreciation that the stock would

have with your purchase call option okay

now if you ever if you've ever bought

call options before you know that they

cost a lot less than purchasing a 100

shares of stock we always talk about 100

shares of stock because each option

contract consists of 100 shares of stock

so we need to compare apples to apples

all right so we're going to look at an

an an an actual uh option trade here

which is an example only it's not a live

recommendation of how to substitute the

deep in the money call option for the

stock all right so and for those of you

that might not know what you know what

is a deep in the money call option what

does that actually

mean a deep in the money call option is

a strike price that's situated well

below the current price of the stock so

if the stock price is at 100 you can buy

let's say a $60 or a $70 strike call

option which is situated well below the

current price of the stock okay and

along with

that deep in the money comes What's

called the Delta the Delta tells you

pretty much how much the option price

will move in conjunction with the stock

price moving so a deep in the money call

option and what I'll explain a little

bit more here is that we always want to

look for a Delta of at least 90% Deltas

range from zero to 100 so we want to

focus on a Delta of at least 90% what

does that mean that means the option

price will move at least 90% of whatever

the stock price does that means you're

getting all that movement your option

price is going to move 90% of what the

stock price does but the option is going

to cost you a lot less money to purchase

it versus the 100 shares of stock so

let's just go and look at our example of

how this buying doing the poor men's

covered call Works versus the

traditional covered call okay so we're

going to look at AMD Advanced Micro

Devices as our um stock that we're

interested so let's just say you know

either you had 100 shares of AMD in your

account or you were going to buy 100

shares and sell a call at the same time

we're going to look at that versus

buying the poor man's covered call

instead so if we were to buy a 100

shares of AMD AMD when I took you know

started writing this this cheat sheet up

the screen capture AMD was trading

around

$16.30 so if you were to buy a 100

shares of AMD at 10630 that would be a

cash outlay upfront of10

$630 okay that's how much it would cost

you to buy the 100 shares and then the

traditional to sell the covered calls

let's just say you wanted to sell those

shares potentially at

$130 sometime in the future so what you

would do would right here you're going

to sell the October 20th 2023 130 strike

calls for a doll two per contract okay

when you sell that call option now

you're obligating yourself to

potentially sell your shares at 130 if

and only if AMD Rises to 130 above by

October and you're going to get paid a

dollar two per contract which is

actually

$102 whatever you see an option price

you have to multiply it by 100 the

option multiplier to to get the full or

realize what the full actual cash value

is so you sell the October 130 calls for

a dollar two per contract you're going

to get

$102 for your obligation to sell your

shares at 130 okay so at this time you

know that your your effective selling

point is 130 plus the dollar two that

you received so right here if AMD closes

above 130 you'll be forced to sell your

shares at an effective price of

$131.2 so you take the strike price of1

130 and you add the dollar two to it so

that's your

$131.2 would be your sell point if you

had to relinquish your shares

okay the profit in this would be

$24.76

game and that would be a um uh gain of

that would be a gain of

$2,472 with a return on investment of

23.3% which as we all know if you want

to figure out what your return on

investment is you take your gain divided

by your initial investment so your

2472 per dollar gain divided by the

10630 Buy price gives you a return of

23.3% not bad so if AMD Rises to 130

above you're going to have to relinquish

your shares you bought them at 10630 you

get to sell them at

13102 and here's all the dollar gains

now let's take a look at buying the deep

in the money call option instead of

actually buying the 100 shares of stock

and how it saves you a lot less money up

front and it's going to increase your

return on investment

byy a much greater amount so instead of

buying the 100 shares we're going to buy

a January 19th 2024 remember this is not

a real trade this is just an example

we're going to buy the $80 call which um

in this case had an

88.5 Delta and I'm going to show you the

option chain as

well and it's going to cost

$302 per contract which is a

$3,020 outlay of cash okay so let's

quickly go to the the option chain for

AMD here now this is my interactive

brokers um option chain here and this is

the broker that I use if you want a

little information about interactive

brokers down in the description below

the video is a link there you can check

that out so AMD here's the the tab now

this is I'm making this video before the

market open so these are prices left

over from yesterday um but but there is

some pre-market activity so AMD stock is

Trading 10660 1 right now when I took

the screen capture yesterday it was

about 10630 so some of these option

prices are going to look a little

different so here's the January 19th

2024 options now you want to make sure

that you have the Delta column in your

option chain now obviously the Market's

not open so none of the Delta Figures

were um are showing up right now but

yesterday when I or when I was making

this video before the market open um

this morning here's the 80 call so what

you would do is you want to make sure

you see what the Call's worth it it

closed at

$304 but as I said when I was making the

screen capture the value was about

$302 per contract we always want to look

at the current bid ass price to get us

the most accurate prices so whenever

you're looking for your option um prices

you know make sure you have the Delta

column here because when you buy the

deep in the money call option like I

said you want that Delta to be as close

to 90% as possible possible now this the

80 call right here was had about an 88.5

Delta round up towards 90 that that's

the option that we chose now we also

looked at selling the October um 130

calls which yesterday um closed at about

98 cents per contract at the time of the

screen capture was trading for about a

dollar two so that's I just want to show

you how where we get these numbers from

so let's go back to um

our cheet

here so we're looking at buying the deep

in the money call option instead of the

stock so right here we're going to buy

January 19th 2024 $80 call now you can

choose any expiration you want typically

when you're doing covered calls and you

own the stock you want to have the stock

for the long term so you want to pretty

much go out to an expiration date that

meets your you know your expectations of

how long you may hold the stock in this

case we're going out to January you can

look at something further out you could

look at something closer in expiration

that's entirely up to you whatever you

want to choose so the 80 call which had

an 88.5 Delta for $302 per contract cost

us

$3,020 and we'll also sell that same 130

call for dollar two per contract against

the option that we're buying which is

the 80 call okay so the cost basis for

the 80 call you always want to know what

your cost basis is the call is going to

be

$110.2 that's your cost basis if you you

know if you're buying the if you want to

figure out what your eventual return is

going to be you need to know what your

cost basis is so you take the $80 call

Value and you add the

$320 that you pay for the contract and

it gives you your your cost basis of

$110.2 so if you were to buy the actual

shares you'd buy them at

$16.30 but by buying the calls it's

going to cost you a little bit more your

cost basis is

11020

okay and um so that's that's where you

start and now you sell the call option

and now you have a purchase call the 80

call that you purchased and the $130

call that you've sold against it now if

AMD rises above 130 follow me here the

net gain the overall net gain is going

to be

$20.82 per contract or per share on the

call option which is

$2,082 and a return on investment of

69% so how do we find out those numbers

your gain of

$20.82 over your cost of

$302 is a return on investment of 69%

now some of you might not understand how

do you figure out what the gain is on

the call option so

remember if you bought the 80 call and

AMD finishes above

130 there's a $50 gain right there just

pretend you know you're buying your call

you get to buy the call at 80 when you

exercise the shares and you sell them at

130 that's a $50 gain but you have to

subtract out the

$302 that you paid for the call up front

Okay So eventually your your net gain is

going to be

$20.82 per share with which is

$282 and your return on investment is

69% so buying the deep in the money call

option saves you over

$7,600

upfront you know if you were to buy the

shares that would cost you $10,600 if

you buy the deep in the money call

option it only cost you

$3,000 $20 so you're saving yourself

over

$7,600 in upfront cash layout by buying

the deep in the money call option

instead in effect you're lowering your

overall risk of $7,600 as well let's

just say AMD craps out and goes to zero

goes bankrupt you're going to be saving

yourself

$7,600 of losses by buying the deep in

the money call option instead and you're

still getting almost all that same

movement all that same bang for your

buck that the stock would get you know

if the stock goes from 110 to 130 you

know there's that

$20 gain right there for the stock but

the same thing for I'm sorry if you buy

it at 106 up to 130 there's about a

$2,400 gain and the deep in the money

call option is going to make a $2,000

gain so you're making you know a couple

hundred dollar less with the deep in the

money call option you know as long as

the stock moves above 130 but but you

have to remember in that tradeoff of

making you know about $400 less in

profit you're saving yourself

$7,600 in upfront cost and

$7,600 less risk in the trade if AMD

craps out okay so here we go $7,600 less

downside risk if AMD drops to zero less

risk and better return on investment the

deep in the money call option you're

going to get a 69% return on your

investment versus the what do we get for

the

um the if you're just buying the shares

instead you're going to have that that

23.3% return on investment so less money

up front better return on investment

less risk to the downside with a 90%

Delta option you're going to get 90% of

whatever the stock moves so in my

opinion it's so much better to have less

money on the line less risk on the line

better return on investment the the

dollar gains are only a couple hundred

dollar difference I'd rather have that

and have all these other benefits okay

so you make sure you use the 90% Delta

in this case to substitute your stock

and use the deep in the money call

option instead it's just a better way a

more efficient way to use your money so

I'm go back up to the very first line

here the goal is to always use your

funds more efficiently with options

contracts compared to using the stock

that's why we love options so much

because you can you can use your money

so much more efficiently you know what

you do you take that $7,600 that you're

saving and put it into other trades or

put it into you know the 5% money market

funds earn that 5% interest these days

so it's so much better to use options

and in this case you're using a deep

inth the- money call substituting that

for the stock and this is what's called

the poorman's covered call why is it

called the poorman's covered call

because as a poor man you have to put up

less money to buy the shares of stock

you're you're saving yourself $7,600

that a poor man doesn't have okay so

that's really why it's called the poor

man's covered call and you're getting

all the same benefits you're getting

appreciation of the stock with the call

option and you're you're able to take in

money of spelling by selling the call

option now if that call option expires

worthless if the October option expires

worthless that's fine you're still

holding your January very deep in the

money call option so now you can sell a

November call option and if that one

expires worthless then you can sell a

December call option against your

January call option so you can keep

rolling it so that's why I say you can

go out further in time you can buy a

June of 2024 deep in the- money call

option if you want it's going to cost

you a little bit more money because the

further out in time you go the more it

costs but you can still make up for that

by Rolling the options for a few more

months instead of using the January 24

call option you understand what I'm

saying all right so that's really the

whole gist of it that's the lesson for

today is that you want to use a deep in

the money call option as a substitute

for the stock it's called the poor men's

covered call all right so let's quickly

go to our our website here um smart

option seller.com

and talk about um you know what we do

here at the smart option seller we are

put option sellers we love selling put

options we love selling options in

general so go to our website get our

free put selling Basics ebook if you

don't know anything about what put

selling is get this book right here

it'll tell tell you everything about it

why we love it so much scroll down here

at our website smart opsin seller.com

here it is called put selling Basics

scroll down put your name and email

address in here and we'll send you an

email with a link to download the copy

we also have our put selling intensive

webinar coming up you can click on the

link right here get some information

about it also at the smart option seller

here's our services tab we run a couple

newsletters we have we have our coaching

Services all these things to help you

get your option trading to the next

level I'm going to put a couple other

videos on the screen we're going to I'll

put a deep in the money call option

video on the screen I'll put a put

selling video on the screen down in the

description below check out some of the

links that I have um the broker that I

use some technical analysis books that I

recommend some other websites that I

recommend take some time scrolling

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helpful and uh just remember the lesson

today poor man's covered call all right

everyone this is leel signing off