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Capital

9 entries filed under this topic
10 min read
Three rows comparing the cash a single cash secured put ties up, reading an $18 stock at the $17 strike holding $1,700, a $35 stock at the $33 strike holding $3,300, and an $85 stock at the $80 strike holding $8,000, beside the rule that the requirement is the strike price times 100 shares.

How much money do you need to trade options

What it actually costs to sell one option: the strike times 100 for a cash secured put, 100 shares for a covered call, and the approval level behind both.

PremiumGuard Research Deskcapitalwheel strategyassignment
17 min read
Roster of six covered call income products grouped by overlay structure: JEPI and JEPQ under note-based overlay, XYLD and QYLD under full monthly overwrite, GPIQ under dynamic partial overwrite, and precious metals products under exchange-traded note, with no yield figures shown.

The 6 best covered call ETFs for income, and how to vet them

Six covered call ETFs compared on overlay structure instead of headline yield, plus the five checks to run on any income fund before you buy it.

PremiumGuard Research Deskcovered callsincomecapital
17 min read
Two-column comparison panel headed covered call ETF versus selling your own calls, showing a 0.52% average fund expense ratio and a fixed monthly overlay on the left against a trader-set strike, expiration and cover decision on the right.

Covered call ETF vs writing covered calls yourself: which one fits how you trade

A covered call ETF hands the options work to a fund manager. Selling the calls yourself keeps control. Here is how the two compare on yield, tax and effort.

PremiumGuard Research Deskcovered callsincomecapital
14 min read
A selection filter panel scoring three anonymized candidates against five covered call criteria

Best stocks for covered calls: a selection framework

Ticker lists go stale every quarter. Five criteria for picking stocks to sell covered calls against, from option liquidity to position sizing.

PremiumGuard Research Deskcovered callsincomecapital
17 min read
Three expiration payoff lines drawn from a $100 entry: stock alone running straight through, a covered call flattening into a ceiling at the $110 strike, and a collar flattening into that same ceiling while stopping at a floor at the $90 put strike.

Covered call risk explained: why the payoff isn't just income

A covered call caps your upside and barely cushions a drop. See the full payoff, plus what a protective put or collar actually costs you.

PremiumGuard Research Deskcovered callsassignmentcapital
12 min read
Price anatomy of a LEAPS call: a $12 option on a $50 strike with the stock at $60, split into $10 of intrinsic value and $2 of extrinsic value.

What is a LEAPS call and how do you actually price one?

What a LEAPS call is, what actually moves its price day to day, and a seven-step checklist for picking a strike and modeling it before you buy.

PremiumGuard Research Deskcapitalcovered calls
9 min read
Strike versus expiration grid showing the two legs of a poor man's covered call: a long LEAPS call at a lower strike with 9 to 24 months to expiration, and a short call at a higher strike with 30 to 60 days to expiration.

Poor man's covered call explained: structure, math, and risks

How a poor man's covered call works: the LEAPS long call, the short call sold against it, and the three numbers that decide if the trade makes money.

PremiumGuard Research Deskcovered callscapitalincome
13 min read
Range band of realistic wheel strategy annual returns from 8% to 25%, with markers for conservative, return-seeking, and margin-using operator profiles and a caution flag on the levered high end.

Wheel strategy returns: realistic expectations for operators

What realistic wheel strategy returns look like: premium yield vs total return, why 20% claims mislead, margin math, and how closed cycles keep score.

PremiumGuard Research Deskwheel strategyincomecapital
2 min read
Safe-to-withdraw card showing $4,850 for the month: $6,120 trailing closed-cycle net income minus $1,270 held in reserve, equity base of $104,850 above target.

How much can you actually withdraw from a wheel account?

Premium income is only income if taking it out does not shrink the machine that produces it. A framework for setting a withdrawal amount your equity base can survive.

Michael O'Donnellwithdrawalscapital