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: IWM
DESCRIPTION: iShares Russell 2000
TRANSACTION TYPE: RollThe small cap index moves higher and higher. With just 4 days until expiration and the option delta of 90 it was time to roll out and up to March. The upward movement in the underlying means that the covered call contract was a drain on performance over the past month.
TRANSACTION DATE: Tues 2/12/13
Action: Buy to closeAction: Sell to Open
Exp. Date: Feb. 16, 2013
Exp. Date: Mar. 16, 2013