#LEAPs #SyntheticCoveredCall
I’ve been watching @fuzzballl‘s LEAP plays and thought I’d use a couple of Jan 2019 call positions for the strategy. I’ve already been doing this with $TQQQ long 50 calls. (Jan 2020).

In November and this month, I bought two $PYPL Jan 2019 100 calls for 2.66 average price. These are at a small loss now. I need only .08 per week, so I will be selling 2-4 weeks out.
Today, sold PYPL June 15th 83 call for 1.25. I only sold one for now, will likely do these piecemeal rather than all at once. If I start to acquire a lot of these plays, I may prefer all at once.

In Nov, Dec, and Jan, I bought 4 $SQ Jan 2019 60 calls, 3.52 avg price. These are now more than doubled.
I’ll be selling weeklys against this; orders in to catch the next pop. I need only .11 per week.

I bought these OTM so it’s much easier to cover the cost than the TQQQ ITM call purchase.