Rolled QQQ Covered Call Out One Week

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: Establish

DESCRIPTION:   QQQ traded almost exactly flat over the past few days. CCI decided to harvest some of the option premium profits generated from time decay by rolling weekly QQQ covered call out as described below

TRANSACTION DATE: Tues 7/23/13

Action: Buy to Close
Exp Date: July 26, 2013

Strike: $75
Price: $.13

Action: Sell to Open

 Exp. Date: Aug 2, 2013 (out one week) 

 Strike: $75

 Price: $0.34

Net Credit: $.19/contract after commissions