How to do poor man's covered call?

The key feature of this deep in-the-money call option is its long maturity period. This allows the investor to hold onto the option for an extended duration, providing more flexibility and potential for capital appreciation as the underlying asset's price moves upwards.

Following the purchase of the long-term call option, the next step involves selling a call option with a shorter maturity. Typically, the strike price of this shorter-term option is set above the current market price of the underlying asset, creating a scenario where the option is not immediately profitable but offers the potential for gains if the asset's price rises sufficiently before expiration.

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The Poor Man's Covered Call is a popular investment strategy utilized by traders seeking to enhance their returns while mitigating risk. It involves a specific approach to option trading that focuses on leveraging the balance between purchasing and selling call options.

At the core of this strategy lies the initial step of acquiring a deep in-the-money call option. This type of option has a strike price significantly below the current market price of the underlying asset, ensuring that the option is already profitable or "in the money" at the time of purchase.