Thursday, January 24, 2013

Rolling QQQ Options Out Two Weeks

The Index Covered Call (aka: ICC) trading plan 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: QQQ 
DESCRIPTION: Power Shares NASDAQ 100

TRANSACTION TYPE: Roll
With Apple (AAPL) plunging today that brought down NASDApple QQQs as well.  CCI took advantage of this pull back to harvest a little option premium. an
 
TRANSACTION DATE: Thur. 1/24/13

Action: Buy to close
Exp. Date: Jan. 25, 2013 (weekly)
Strike: $66.00
Price: $.76
 
Action: Sell to Open
Exp. Date: Feb.8, 2013 (weekly, out 2 weeks)
Strike: $66
Price: $1.13
 
Net Credit/Contract after commissions: $.32

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