Rolled QQQ Covered Call Position

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:   QQQ pulled back last Thursday and CCI took some option premium profits ($.23 or .33%) by rolling the covered call position as described below. 

 

TRANSACTION DATE: Thurs. 3/21/13

Action: Buy to Close

Exp. Date: Mar 28, 2013

Price: $.11

 

Action: Sell to Open

 Exp. Date: Apr. 12, 2013 (out an additional 2 weeks ) 

 Strike: $68.5

 Price: $.53

 

Net Credit: $.39/contract  after commissions