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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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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

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

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.

The All-Weather Portfolio with Poor Man’s Covered Calls: A Tactical Approach to Consistent Income

How to build a resilient income portfolio using Ray Dalio's All-Weather framework with PMCC overlays on TLT, SPY, EFA, and GLD. Real trade example: TLT Jan 2027 $75 LEAPS at $1,545, 3.4% cycle return, 27.2% annualized baseline.

Poor Man’s Covered Call vs. Covered Call: Which Strategy Is Better?

PMCC vs covered call compared across 5 categories with real MSFT numbers. 14.8% ROI vs 5.2%, $12,500 vs $41,200 in capital, and a direct statistical comparison of every metric that matters.

Maximizing Returns with a Poor Man’s Covered Call Strategy: A Smarter Way to Trade Options

The Poor Man's Covered Call generates the same income as a traditional covered call using 72.7% less capital. Full MSFT example: Jan 2027 $360 LEAPS, 5.0% return on capital vs 1.4% for shares, $31,203 freed for other positions.

Apple LEAPS Strategy Review: 92% Return Using Poor Man's Covered

How a Poor Man's Covered Call on Apple delivered 92% returns in six months using LEAPS. Real trade breakdown, income results, and capital efficiency analysis.

PMCC - Expected Move for Picking Short Calls

Use expected move to choose short-call strikes that pay and protect.

The PMCC Collar Framework - Building Income with a Floor

Learn how to add downside protection to your PMCC strategy without killing income. Practical frameworks for using collars, timing hedges, and managing costs.