The net debit is at or above the spread width — this PMCC cannot reach a profit at the short strike. Choose a cheaper LEAPS or a higher short strike.
Your short call expires on or after the LEAPS — a PMCC normally sells a shorter-dated call against a longer-dated LEAPS.
Your LEAPS strike is at or above the current price (not in-the-money). A PMCC works best with a deep in-the-money LEAPS that tracks the stock.
Max profit and breakeven value the LEAPS at intrinsic only at the short expiration; the real best case is usually a little better. Income yield annualizes this cycle's short-call credit against your net debit.
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Best guess — modeled at the short call's expiration, valuing the remaining LEAPS with Black-Scholes and assuming implied volatility holds. A two-expiration estimate, not a prediction; it ignores volatility skew, early assignment and dividends. Real outcomes will differ.
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