Opening (IRA): TQQQ July 19th 58 Monied Covered Call... for a 55.95 debit.
Comments: Going monied here, selling the -75 call against stock to emulate a 25 delta short put metrics while having built-in intraexpiry defense via the short call. More patient people will probably wait for weakness ... .
I'll generally look to roll out the short call on test or at 50% max/take profit on the entire setup as a unit at 50% of max.
Metrics:
Buying Power Effect/Break Even: 55.95
Max Profit: 2.05 ($205)
ROC at Max: 3.66%
ROC at 50% Max: 1.83%