The poor mans covered call is a leveraged covered call play. The only difference (and thus why it’s called poor mans) is because instead of buying stock, which may be expensive, you just buy a cheaper in the money call option. Poor mans covered call may have a higher ROI due to the leverage, but also has added risks. The setup is simple, buy 1 in the money call option, and sell 1 out of the money call option. The long call will be a longer dated expiration, this could be a few weeks, up to being a LEAP.
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No equity included
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