HIGH NOON TRADER

🔄 PMCC ACTIVE TRADE MANAGEMENT CHECKLIST (v3 — LIVE POSITIONS)

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Happy Harry Huckleberry
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📊 DAILY / CHECK-IN ROUTINE

Run this quickly—no overthinking:

  • Where is price vs short call strike?
  • Current short call delta?
  • Days to expiration (DTE)?
  • Has volatility changed? (CBOE Volatility Index)
  • Has trend changed? (7 vs 21 MA)

👉 If nothing meaningful changed → DO NOTHING

📏 SHORT CALL DECISION SYSTEM

1. Distance to Strike (PRIMARY TRIGGER)

  • >5% away → HOLD
  • 3–5% → MONITOR
  • 1–3% → PREPARE
  • <1% → ACT

2. Delta Confirmation (SECONDARY)

  • ~30 delta → Watch closely
  • ~40 delta → Action required

👉 Always confirm with price + delta together

⚙️ ACTION PLAYBOOK

✅ Roll Up & Out (Primary Move)

Use when:

  • Price is approaching strike
  • You remain neutral → bullish

How:

  • Move strike higher (stay within system delta range)
  • Extend DTE (same cycle or +1 cycle)
  • Collect net credit

✅ Close Early

Use when:

  • Profit hits 50–75%
  • Risk is increasing
  • Market conditions deteriorate (VIX/trend shift)

⚠️ Controlled Assignment (Rare)

Only if:

  • You are intentionally exiting the PMCC
  • Not as a passive outcome

🧠 VOLATILITY + TREND RECHECK (WHEN ADJUSTING)

Before ANY roll or re-entry:

Check Volatility — CBOE Volatility Index

  • High VIX → shorter DTE, lower delta
  • Low VIX → further OTM or skip

Check Trend (7 / 21)

  • Bullish → lean lower delta
  • Bearish → lean higher delta

👉 Adjust slightly, never aggressively

🔁 LEAP MANAGEMENT CHECKLIST

📅 Time-Based

  • 6–9 months remaining → PLAN roll
  • <6 months → EXECUTE roll

📊 Condition-Based (Early Roll)

Roll LEAP if:

  • Delta drops below 0.70
  • Profit reaches 30–50%+
  • Clear underlying trend shift

🔄 LEAP ROLL EXECUTION

  1. Close current LEAP
  2. Open new LEAP:
    • 12–18 months out
    • ~0.80 delta
  3. Re-anchor system:
    • Re-evaluate VIX + trend
    • Sell new short call using current conditions

🎯 POST-ADJUSTMENT RESET

After ANY roll or close:

  • Re-check VIX
  • Re-check trend
  • Re-select delta + DTE
  • Reconfirm strike placement

👉 Every adjustment = new trade context

❌ ACTIVE TRADE MISTAKES TO AVOID

  • Waiting too long to roll
  • Letting calls go deep ITM
  • Ignoring delta expansion
  • Rolling for a debit unnecessarily
  • Overriding system rules

⚡ QUICK DECISION GUIDE

  • Profit early → TAKE IT
  • Price near strike → ROLL
  • Market unstable → REDUCE RISK
  • LEAP aging → ROLL FORWARD

🧠 CORE PRINCIPLE

Manage proactively, not reactively
Small adjustments early prevent large problems later

🔁 HOW TO USE THIS (REAL LIFE)

When a trade is open:

  • Price near strike? → Roll
  • Profit hit? → Close
  • Delta expanding? → Act
  • LEAP aging? → Plan roll

👉 No hesitation. No second guessing.

🔥 WHAT THIS FIXES

  • “Should I roll now or wait?” ❌
  • “Maybe it’ll come back…” ❌
  • “I’ll hold a little longer…” ❌

👉 Replaced with rules + execution

⚡ COMPLETE SYSTEM (YOU NOW HAVE)

  • Entry system ✅
  • Market filters (VIX + Trend) ✅
  • Strike selection ✅
  • Live trade management ✅
  • Rolling logic (short + LEAP) ✅
  • Exit system ✅

🧠 FINAL LINE

Good trades start the system.
Great results come from managing them correctly.

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