Placing an in-the-money covered call on XOP here, as the price is falling.

+100 shares of XOP @ $43.07
-1 Nov 20 short $43 call @ $6.83.

DTE: 73
Ext: $2.80
Breakeven: $40.20 (14.5%)
Div: $1.35 (2.9%)
Ext ROC: 6% ($2.8/$43.07)
Ann. 29.8%


Nice ROC. #TheJoysOfMonied
Benji NaughtyPines
@NaughtyPines, had a sized revelation about ITM CCs lately. Especially managing some larger, "conservative" accounts.

Crazy that you can "buy" a fairly certain cash return each year, while making increasingly more money if the markets fall, for an even higher cash return.

Use cash from market falling, buy more shares, ride up, then start process over again.
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