Rolled QQQ Covered Calls

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
DESCRIPTION: Today's market pull back (QQQ under $67) provided the opportunity to roll the covered call position. This covered call had been a loser, but on the roll-out the Feb. 8 calls were able to be closed for a small profit.  (Sold at $1.13 bought back at $1.00)

TRANSACTION DATE: Thur. 2/7/13 

Action: Buy to Close 

Exp. Date: Feb. 8, 2013 (weekly) 
Strike: $66.00 

Price: $1.00 
 

Action: Sell to Open
Exp. Date: Feb. 22, 2013 (weekly, out 2 weeks) 
Strike: $66  
Price: $1.35
 

Net Credit: $.30 after commissions