Weekly Paycheck — Steady Income, Downside Protected
What it is
Weekly Paycheck is a covered-call income strategy with a built-in floor. You own the shares, you protect them with a long put, and you sell a weekly call to collect premium — your paycheck. Because it never sells a put, it is allowed in any account, including registered/retirement accounts.
How it works — the three legs
100 shares per lot of the ticker you choose — the asset you are willing to own.
A protective put (LEAPS, ~10% below) — your downside floor, 6–12 months out, so a crash can never run past it.
A short weekly call (~25 delta) — sold each week for premium. This is the income engine.
What we do for you
We watch the short call every cycle and show you the roll OPTIONS the moment it's time — each strike with the credit it brings — and you pick (or set it to Auto) — either when it has decayed to your roll level (you have captured most of the premium) or when price is nearing the strike. You press Roll, and we buy back the old call and sell the next weekly up-and-out, usually for a credit. The call is never left to get assigned.
How long we run it
The income leg is weekly — a fresh call sold every cycle, rolled UP-AND-OUT for a credit before expiry (never a debit unless price outruns every credit strike). The protective put is a STATIC, never-moved LEAPS (6–12 months), held in the background as your standing floor. You run it as long as you want to keep collecting weekly premium on a stock you are happy owning.
The trade-off
Your upside is capped at the short call strike for the week — that is the price of the premium. Your downside is protected by the put, and the only real cost is the put premium, which the weekly calls steadily pay back. Calm, repeatable, defined.
Who it is for
Anyone who wants steady, protected income on shares they already want to hold — and who values that it works in a registered/retirement account. If you want a second stream of premium and can use margin, see Double Paycheck.
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