As a novice trader, think of the Poor Man’s Covered Call (PMCC) as a budget-friendly way to mimic a traditional “covered call” strategy without needing to buy 100 shares of a stock outright. In a standard covered call, you’d own the stock and sell a call option against it to earn premium income, but that requires a lot of capital (often thousands of dollars per contract). The PMCC, also known as a long call diagonal debit spread, replaces owning the stock...