Re-starting weekly covered calls against EEM

The Index Covered Call Trading Plan  (aka: ICC) is CCI's approach for managing a position of index ETFs and related covered calls.  The most recent trade against this plan is described below.  A reader can find details about the rational and management of the trades at the ICC trading plan tab on CCI's home page.

UNDERLYING ETF: EEM    

DESCRIPTION: iShares Emerging Market Shares  

TRANSACTION TYPE: Buy write. 

After a break for the holidays, CCI is re-initiating the process of selling weekly calls against a position in EEM.  As discussed in the trading plan, the intent is to simply hold the position through the expiration/assignment that will occur on Friday and then replace the position next Monday.

 

TRANSACTION DATE: Mon. 1/7/13

Action: Buy - EEM 

 Price: $44.63

 

Action: Sell to Open

Exp. Date: Jan. 11, 2013 (weekly)

Strike: $45.00

Price: $.15

 

Net Cost: $44.49 after commissions