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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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Poor Man's Covered Calls on Growth Stocks: A Capital-Efficient Approach to Monthly Income

Learn how to use Poor Man's Covered Calls (PMCCs) on growth stocks like Dutch Bros (BROS) to generate monthly income with 65 to 85% less capital than traditional covered calls, plus the ratio PMCC for more upside.

MRK PMCC Strategy Review: How One LEAPS Position Produced 77% "Dividend Replacement" Income While the Stock Gained 37%

A real MRK Poor Man's Covered Call trade breakdown, with real numbers, real bruises, and a repeatable framework you can apply to your own watchlist.

PMCC Management Rules

A practical PMCC management playbook covering LEAPS selection, short call rules, roll triggers, dividend-related assignment risk, and the sizing discipline that keeps capital efficiency from becoming concentration risk.

The Case for Owning More LEAPS Than You Cover: A Smarter Way to Trade Gold

Why selling calls against every LEAPS position may be costing you money. A practical guide to the ratio PMCC strategy for GLD, balancing options income with upside exposure.

JNJ PMCC Strategy Review: How One LEAPS Position Produced 93% "Dividend Replacement" Income While the Stock Gained 32%

A real JNJ Poor Man's Covered Call trade breakdown, with real numbers, real bruises, and a repeatable framework you can apply to your own watchlist.

Why Deep-ITM LEAPS Can Beat Stock for Income Strategies

Deep ITM LEAPS free up capital, define your downside, and create flexibility stock ownership can't match. Here's how to use them for income strategies.

The LEAPS Collar: Protecting Your PMCC When Conviction Wavers

Learn how to protect profitable PMCC positions using LEAPS collars. Detailed strike selection, timing, and risk management for long-term options traders.

Building a Small Dogs PMCC Portfolio (And Why It's Not Just "Dogs of the Dow With Options")

How to build a repeatable income engine with Small Dogs of the Dow and Poor Man's Covered Calls, plus real results from 2025 that prove the structure works.

Building an All-Weather PMCC Portfolio

Learn how to build a diversified "All-Weather" portfolio using Poor Man's Covered Calls (PMCCs): ETF selection, LEAPS rules, short-call overlays, and risk controls that actually work.

The Complete Poor Man's Covered Call Library: 21 Essential Articles

This resource page organizes every Poor Man's Covered Call article from The Option Premium into a structured learning path. Whether you're encountering PMCCs for the first time or refining advanced execution techniques, this guide shows you exactly where to start and how to progress through the material.

Andrew Crowder

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.

📚 Educational Corner: 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.