$ASML 20251205 1150.0 CALL$ I currently hold a long call on ASML set to expire next March. I am now establishing a short-dated (just over a week out) short call at a higher strike price, transforming the overall position into a diagonal spread, also known as a Poor Man’s Covered Call (PMCC). While my outlook is bullish for ASML in the near future, I recognize the move will not be linear. Selling this short call acts as a hedge: it captures premium to offset the theta decay on the long call, which would otherwise depreciate even if the underlying stock isn't moving fast enough. Ultimately, this is a capital-efficient method to generate short-term income against a long-term bullish outlook.