Rolled EEM 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. 

UNDERLYING ETF: EEM   

DESCRIPTION: iShares Emerging Market Shares

TRANSACTION TYPE:  Roll Out and Up

Emerging market stocks moved sideways this week allowing an opportunity to harvest some option premium from the covered calls via the transaction described below. 

TRANSACTION DATE: Thur. Jul 18

Action: Buy to close  

Exp. Date: July 20, 2013 

Strike: $40

 Price: $.,06

Action: Sell to Open  

Exp. Date: July 26, 2013 (one week out) 

Strike: $40

Price: $.31

Net credit/contract: $.23 after commissions