UNDERLYING ETF: QQQ
DESCRIPTION: Power Shares NASDAQ 100
TRANSACTION TYPE: Roll
QQQs have moved markedly higher since the last covered call position was taken over the holidays. With one day to go until expiration it was time to take the loss in the covered call contract, preserve some of the gain in the etf and and roll out to another strike.
TRANSACTION DATE: Thur. 1/10/13
Action: Buy to closeAction: Sell to Open
Exp. Date: Jan. 11, 2013 (weekly)
Exp. Date: Jan. 25, 2013 (weekly, out 2 weeks)