www.jpx.co.jp/ose-toshijuku/column/225futuresandop/02.html

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アレンジ！「カバードコール」プット買で下落時に利益を狙う | 北浜投資塾 - 大阪取引所（日本取引所グループ）

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https://www.jpx.co.jp/ose-toshijuku/column/225futuresandop/02.html

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This page explains the "covered call" options strategy using Nikkei 225 mini futures. The strategy involves holding a long position in Nikkei 225 mini while selling call options at higher strike prices. Income from selling calls increases profit and lowers the loss-cutting line. However, once stopped out, investors miss subsequent upside gains. The article illustrates a February 13 trade example, demonstrating how trailing stops can incrementally secure profits. When the futures dipped to 21,590 yen, the stop-loss was triggered, yielding approximately 450,000 yen profit despite missing potential gains exceeding 1 million yen.