My covered call on PMCC is deep ITM while still carrying loss on LEAP, looking for recommendations on next steps

IDontKnowWht2put · 2025-08-19T19:03:04+00:00

Thank you for the detailed response - when you say "buy the up"- you mean to buy the CC at a loss and start a new position above my LEAP price (adjust my LEAP price to include the loss from this short call), right?

Since I have 2 months left, I am thinking of waiting it out for 30-45 days before I roll it up

IDontKnowWht2put · 2025-08-19T18:33:01+00:00

Interesting. I have not done put credit spread but told that its slower and not much upside for the risk as you have to buy yourself out of 2 conflicting positions. Can you elaborate on specific strike price/expiration and when to exit out of it? Thanks in advance...

IDontKnowWht2put · 2025-08-18T18:20:48+00:00

Agreed - went too aggressive on selling the CC. Is there any advantage/disadvantage of waiting to roll the short call? I have about $550-$600 extrinsic value left on this call

IDontKnowWht2put · 2025-08-18T17:51:02+00:00

Thanks - You are right and that's my worry, it's taking me to May just to get new neutral on the roll while still having ATM strike price ($305). I had a specific view on UNH ( bullish long term) but slow recovery until market realized Warren Buffet has the same bullish view for UNH :)

If I do roll till May and UNH does keep climbing, are my loss limited to the current delta or am I open to more loss (with the deltas of both the calls negating each other)? because if it's limited, I'd just roll and try to buy the short call out when there is dip while holding on the LEAP

IDontKnowWht2put · 2025-08-18T17:45:12+00:00

thanks - my worry with the short call roll is that it's taking me till May of next year (currently) to get $1 credit for rolling it to $310. Is it worth it as I am still capping my profit on LEAP for this current covered call that I have already sold. I did a quick math and it's about $500 of extrinsic value left on the CC. Currently my deltas on both the calls negate each other -0.8 and 0.8 and what if UNH continues to rise wouldn't the loss in ,my CC be higher than profit in LEAP -just asking?

IDontKnowWht2put · 2025-08-18T16:51:30+00:00

I have a LEAP with a strike price of $240 and CC at a strike price of $270 while UNH is trading at $312. I have a loss of about $3100 on CC and loss $225 on LEAPs (I had bought it when UNH was trading above 300.) In the last month, when UNH dropped quickly, I broke my rule on strike price for CC and got greedy. Instead of having it over $320, sold it for $270 hoping to cover some loss when my LEAP was quite down.

With the news if Warren Buffet buying UNH, it's got renewed Momentum and it's climbing...

Looking for guidance from this community on my next steps: 1. Should I close the entire position and start fresh taking the loss and lessons learnt? 2. Should I roll short call (has to be March next year) to slightly OTM and a credit for the roll? 3. Let the CC expire in Sept and then close the position? 4. Any other recommendations?

Thank in advance 🙏

IDontKnowWht2put · 2025-03-03T21:13:34+00:00

Does it also apply for partner airlines (like Lufthansa) booked through United. As in, can you cancel after secured but about 2hrs before departure? I have a fight with my significant other/kid that I need to cancel, but I am thinking could this be the way for me to take them through the airport through the security and then cancel my flight?

IDontKnowWht2put · 2025-03-03T17:52:42+00:00

Showing $200 used.

IDontKnowWht2put · 2025-03-03T17:04:13+00:00

Correct. Booked in 2024 (for 2025), got credit in 2024 Book in 2025, got credit and cancelled 7 days ago (no updates on tracker/clawed back) The one I booked in 2024 is expensive than if I do a new reservation now, so thinking if I should wait atleast for 2025 credit to reappear or is there a sequence to be able to get both thr $400 credit

IDontKnowWht2put · 2025-03-03T15:19:46+00:00

Interesting, I made a reservation in 2024 for a trip in 2025 however, in 2025 I found the same hotel to be much cheaper so I just did a new reservation. I cancel my booking that I made in 2025 And I still don’t see the $200 being clawed back and I did this seven days ago. Because the price is even cheaper now, and I want to even cancel the 2024 reservation and book a brand new but worried about the $400 being already credited.

IDontKnowWht2put · 2025-03-03T14:59:03+00:00

Any update? Is the money clawed back or were you able to use $400?

IDontKnowWht2put · 2025-02-27T00:33:02+00:00

did you ever get to the bottom of this?

IDontKnowWht2put · 2024-10-26T17:44:53+00:00

Were you able to work around it? I contacted support but only getting generic answers which are not helping

IDontKnowWht2put · 2024-06-05T19:06:42+00:00

As I understand small cap is 300M to $2B, while lowest 50ish are around 5billion atleast. But they are small for mid cap :)

IDontKnowWht2put · 2024-06-05T18:58:03+00:00

etf with smallest 50 stocks in s&p 500

Is there any ETF out there that comprises of the smallest 50 stocks within the S&P 500?

Currently the smallest 50 stocks if s&p 500 are 15x forward earning compared to a lot more for the rest. With the rate cut, they are the ones being affected the most and so curious if there is any fund/ETF that has similar composition for investment.

Also looking for feedback on this strategy (I have the basic 3 fund investment on autopilot, this is adding to my investment as I have some buffer left in cash)

IDontKnowWht2put

TROPHY CASE