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:   With a short holiday week and the market not moving too much, CCI rolled the July 5 $72 call in QQQ out to July 12 to provide more time/premium potential.  The July 5 call was closed at essentially no gain. 

 

TRANSACTION DATE: Wed. 7/5/13

Action: Expired

Strike: $72

Exp. Date:  July 5, 2013

Price: $0.23

 

Action: Sell to Open

 Exp. Date: July 12, 2013 (out one week) 

 Strike: $72

 Price: $0.53

Net Credit: $.27/contract after commissions