Opening (IRA): IWM September 2nd 196 Covered Call

for an 187.73 debit.

Comments: Since I've got IWM short delta hedge still hanging out there and no remaining IWM short puts to offset, doing a heavy long delta covered call (it's 67.48 long delta). Will look to roll out the short call (currently marking at 2.42) at 50% max to a similarly delta'd strike at or above my cost basis.

From a price action standpoint, this isn't the greatest spot to "go long," so may not be suitable as a standalone trade unless you're the patient sort who is fine with reducing cost basis over time via roll of the short call and over (potentially) larger time frames.
Beyond Technical AnalysiscoveredcallIWMoptionsstrategies

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