@MillionaireTiger 📈 Rolling Up: Selling a New SPYG Covered Call at $92 💰
After successfully closing my previous SPYG trade, I decided to roll my position and sell another covered call at a higher strike price of $92.
🔹 Why I Rolled Up My Covered Call:
1️⃣ Hedging Against a Further Market Rally 📊
I am concerned that the market might keep pushing higher, so instead of sitting on the sidelines, I sold a new covered call at $92 to continue earning premiums while giving myself more upside potential.
2️⃣ Securing More Premium & Lowering Cost Basis 💵
Selling another call generates additional income, further reducing my effective cost per share and locking in profits even if SPYG keeps rising.
3️⃣ Maximizing Gains While Managing Risk 🔄
By choosing a higher strike price, I allow my shares to appreciate more before they might be called away, ensuring I don’t miss out on potential upside.
📌 Final Thoughts – Playing It Smart!
Rolling my covered call to $92 was a strategic decision to stay in the game while protecting against excessive upside risk. If the market continues to climb, I still profit from capital appreciation up to $92, plus the premium I collected! 🚀🔥
$SPYG 20250321 92.0 CALL$ $SPYG 20250321 92.0 CALL$
@TigerTradingNotes @TigerStars
| Side | Price | Realized P&L |
|---|---|---|
| Sell Open | 1.10 | -- Closed |
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