Monday, April 15, 2013

Rolled SPY Covered Call Out and Up

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.

TRANSACTION TYPE: Roll the Apr $157 Call to the May $158 Call
TRANSACTION RATIONALE:  The market pull back today presented an opportunity to roll one of the ICC covered calls out and up as described below. 
TRANSACTION DATE: MonApr. 15, 2013
Action: Buy to Close
Exp. Date: Apr. 20, 2013
Strike: $157
Price: $.57
Action: Sell to Open  
Exp. Date: May. 18, 2013  
Strike: $158  
Price: $1.48 
Net credit: $.84/contract after commissions.

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