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A Poor Man's Covered Call is an options spread trade where you sell a call against a long call further out in time. The front month options should be one strike up and one month out, although you could do weekly's as well.
The long call would most likely be a LEAP (Long Term Equity Anticipation Security) which is simply an option with more than one year (or so) of time left.
Watch the video for some tips on how to make these more profitibale!
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