Established A New Poor Man's covered call with LI Auto(LI:NASDAQ)

Hello traders! I’ve some exciting news to share - today I established another poor man’s covered call on Li Auto stock.

On June 29, we bought 1 LEAP call option on LI auto stock, with expiry on January 20, 2023 (about 18 months) with a strike price of $30, and simoultenounly sold a weekly call option against this position with expiry on July 02, 2021, for this sell we got a $39 in options premium

here is our trade setup:

• BOT 1 LI Jan 20'23 30 CALL 13.00 USD

• SLD 1 LI JUL 02'21 36 CALL 0.39 USD

We paid $1,300 for this LEAP option and got back $39 for a weekly call, that’s a potential return of 3% in just 3 days

Break-even: $12.61

We are looking to hold this position for at least a year, as we are looking at LI stock price appreciation and then selling with a profit.

here is a quick YouTube video I made about this trade: