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Poor Man's Covered Call

growth Capped loss

A capital-light covered call using a LEAPS.

⚠ Backtest data is currently unreliable for PMCC — taught only, excluded from automatic income picks pending a re-run.

When to use it

Substitute for a covered call: buy a deep-ITM long-dated call (70–80 delta), sell short-term OTM calls against it.

Max profit

Capped by the short call each cycle.

Max loss

The long-call debit.

Payoff at expiry

illustrative shape — not to scale

■ profit zone ■ loss zone X axis = stock price at expiry →

How it's built

Strikes shown low→high. Sell = collect premium · Buy = pay premium for protection or upside.

Hermes hasn't found a per-ticker setup clearing the sample floor for this strategy yet. It's evaluated every optimizer run — check back after the next scan.