Rolle QQQ Covered Call Up and Out

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 Up and Out

 

DESCRIPTION:   The NASDAQ moved up this week resulting in the covered call hedge being a drag on performance.  CCI rolled the covered call position up and out as described below

 

TRANSACTION DATE: Fr. 8/2/13

Action: Buy to Close

Strike: $75

Exp. Date:  Aug. 2, 2013

Price: $1.44

 

Action: Sell to Open

 Exp. Date: Aug 9, 2013 (out one week) 

 Strike: $75.5

 Price: $1.15

 

Net debit: $.32/contract  after commissions