Friday, August 9, 2013

Rolled QQQ Covered Calls 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:   A relatively flat week in the market provided the opportunity to harvest a small amount of option premium and roll out the covered call position closer to ATM.
 
TRANSACTION DATE: Fr. 8/9/13
Action: Buy to Close
Strike: $75.50
Exp. Date:  Aug. 9, 2013
Price: $0.93
 
Action: Sell to Open
 Exp. Date: Aug 23, 2013 (out two weeks) 
 Strike: $76.0
 Price: $.96
 
Even after commissions

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