WMT Covered Call

Been holding this trade for a few weeks now. This is my first post related to options trading. I'm using the lines to show a visual of how selling a Call has helped create a range of profitability and risk management.

GREEN LINE - Max Profit - This green line is in relation to the original share price entry point, the Call strike price, plus any premium collected.
YELLOW LINE - Strike Price - I will adjust this often in an effort to continue to manage the risk, while maximizing profits. I try to stay under the stock price to maximize risk management.
RED LINE - Break-Even - This line is a proposed break-even price of the covered call. It is a linear sloped line, but is not accurate. This line give a rough estimation of what my break if is based on each expiration date.
PINK LINES - rough projections based on the last Max Profit and Break-Even potential. I'm using this to show what might potentially happen to the range, the longer I hold on to this trade.

Comment:

Rolled down from 145C to 144C and out from 2/05/21 to 2/12/21 for a credit of $1.24.

It doesn't appear there is a way to update the screenshot?

Comment:

Ahhh, there is a way

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Rolled Call down and out again today. Way too soon to be rolling again, but I want to stay ahead of any downside. Premium seemed right, so I took it.

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just rolled higher

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Rolled Out and Up for a credit of $0.01

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Rolling straight down from 144C to 140C, keeping expiration unchanged

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rolled down and out yesterday, then got busy with day job

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Forgot to past my last roll lower, also exited that series of Calls, now only holding 100 shares long with a new break-even price of $135.91

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Sold a new call against my first 100 shares of WMT. I sold a 136C for a credit of $0.12 which expires 3/12/21. I will roll this call higher and quickly if the underlying price is up again tomorrow. I want the call strike price to stay rolled above the underlying in case WMT has a V shaped recovery back into my profitable range.

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Rolled out and up to stay ahead of any moves higher in underlying price.

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Rolled out again to stay a bit more ahead of any price movements. I still have a lot to learn with roll dates vs ITM/OTM pricing.

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Rolled WMT 137call out 1 more week to 4/1/21 expiration for $0.41 credit

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I rolled WMT out and up Friday, but was busy at work and forgot to post. I just rolled out and up again. I'm not excited about this roll, as the price could correct at the same time I've rolled out to 4/23/21. I'm willing to take that risk to stay ahead of the underlying value moving me back into a profitable trade.

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I become ever more paranoid of this trade. In order to ensure that I will be able to hang on to the trade, I've rolled up to 145C and 4 weeks out. I decided on this point because it appeared to be the best deal and keeps be well ahead of the underlying. I'm paranoid because this leaves a lot of room for WMT to correct. If so, I'll simply roll lower to chase it once again.

Comment:

NO Changes today, just updating this idea
This covered call has been back in the green for a while. I did move my call a bit too high, as I'm not making much at all on premium. I am still very happy with this trade. right now at about a 2.9% gain against the cash amount of this trade in 120 days.

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Rolled straight down, as WMT has fallen. I've sacrificed some of max profit potential to add to break even price. Details are on the screenshot update.

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Rolling back up to 145C and out 3 weeks. I do realized I may be over-trading at this point, but I wish to stay ahead of the underlying price if retail is going to push WMT higher. I also realize that earnings will be reported soon and I'll be wishing I had held at 143C in order to be in a position to roll lower. If the underlying moves much higher, I still need to wait. If underlying moves down much from here, I feel the need to follow it down again.

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Rolling back in and back down to 143C and 5/28/21 expiration. I am sacrificing max profit by $2, but will collect the same premium 2 weeks sooner. The market has been a bit choppy the last couple days, I prefer this little bit of added protection since WMT has struggled to break higher.