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The Mathematics Behind Poor Man’s Covered Calls: Delta, Theta, and Probability

The Mathematics Behind Poor Man’s Covered Calls: Delta, Theta, and Probability

How disciplined traders use delta, theta, and probability to structure income with Poor Man's Covered Calls, without tying up the capital a covered call demands.

Building a Lazy Way Portfolio With Options

Building a Lazy Way Portfolio With Options

A plain-English comparison of the Poor Man's Covered Call and the Wheel Strategy, with a model multi-ETF portfolio built on probability over prediction.

The PMCC Ladder: How to Build a Weekly Premium Stream From Poor Man's Covered Calls

The PMCC Ladder: How to Build a Weekly Premium Stream From Poor Man's Covered Calls

Want weekly premium instead of one monthly deposit? Learn how to ladder Poor Man's Covered Calls across expirations, sectors, and deltas for continuous income.

Poor Man's Covered Call on IBIT: A Smarter Bitcoin Trade

Poor Man's Covered Call on IBIT: A Smarter Bitcoin Trade

Trade Bitcoin with 63% less capital. A step-by-step Poor Man's Covered Call on IBIT using a 605 DTE LEAPS and a 52 DTE short call. Real numbers, defined risk.

The Covered Call Framework: Delta, Time, and the Decision to Roll

The Covered Call Framework: Delta, Time, and the Decision to Roll

Every covered call decision answers one question: what is my exposure now? Andy Crowder's framework for delta, days to expiration, and rolling decisions.

The Lazy Way: How a Five-Stock Small Dogs PMCC Sleeve Outearns Most Active Trading

The Lazy Way: How a Five-Stock Small Dogs PMCC Sleeve Outearns Most Active Trading

The Lazy Way Portfolio: How the Small Dogs of the Dow Power a Low-Maintenance PMCC Portfolio

Andrew Crowder
The Poor Man's Covered Call Approach to Dividend Kings

The Poor Man's Covered Call Approach to Dividend Kings

Fifty years of consecutive dividend increases is the kind of track record that earns a stock a permanent seat at the table. The catch is the capital required to own these names at scale. The PMCC structure offers a way around it, with one trade-off worth understanding before you commit.

Andrew Crowder
The LEAPS Collar: Protecting Your PMCC When Conviction Wavers

The LEAPS Collar: Protecting Your PMCC When Conviction Wavers

A practitioner's guide to protecting a profitable PMCC by using the short call you are already selling to finance a protective put. Three legs. One expiration. No timing mismatch.

The Anatomy of an All-Weather PMCC

The Anatomy of an All-Weather PMCC

The All-Weather PMCC, walked through slowly. The two legs, the math three ways, the four-scenario stress test, and the build mistakes that quietly erode it.

Andrew Crowder
How to Build a Dividend Aristocrats Portfolio with a Poor Man's Covered Call

How to Build a Dividend Aristocrats Portfolio with a Poor Man's Covered Call

Build an Aristocrat-style income portfolio using deep ITM LEAPS instead of stock. Same exposure, ~70% less capital, monthly premium income.

Andrew Crowder
The 200-Day Moving Average as a PMCC Filter: What Two Decades of Evidence Tell Us

The 200-Day Moving Average as a PMCC Filter: What Two Decades of Evidence Tell Us

Why PMCC structures are uniquely sensitive to the regime the 200-day filter identifies, and what to do when the line breaks mid-trade.

Andrew Crowder
Is Inflation Here to Stay? How to Profit with Poor Man's Covered Calls on Gold

Is Inflation Here to Stay? How to Profit with Poor Man's Covered Calls on Gold

GLD at $423.89. Jan 2028 $370 LEAPS at $9,925 vs $42,389 for shares. First cycle: Jun $455 call at $4.95, 5.0% return in 49 days, 78.84% probability OTM. Full PMCC setup with IV analysis.

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