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Poor Man's Covered Call Strategy

Poor Man's Covered Call Strategy

A poor man’s covered call is an options strategy that allows investors to generate income by selling call options against a long-term LEAPS (Long-Term Equity Anticipation Securities) call option, rather than owning the underlying stock.

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From Steady to High-Octane: Poor Man’s Covered Calls at Different Volatility Levels

A side-by-side look at low, medium, and high-IV setups, revealing how implied volatility impacts returns, capital efficiency, and strategy selection for monthly income.

Andrew Crowder

Which Strike Price Is Best for a Poor Man’s Covered Call? A Practical Guide for Options Traders

Choosing the right LEAPS strike is the most important decision in a Poor Man’s Covered Call. Here’s how to pick the one that aligns with your time horizon, capital, and risk profile.

Hedged Equity, Without the Shares: Can LEAPS and Options Lower Volatility and Boost Efficiency?

Why Option-Based Equity Portfolios Might Be the Missing Middle Ground for Investors

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

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

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

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 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

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

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 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

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

Andrew Crowder