Rolled Emerging Market (EEM) Covered Call

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:   As part of last weeks overall market sell-off, emerging market stocks finally moved away from the very tight trading range it has been in for the past 5 weeks.  With this pull back CCI rolled the weekly EEM covered call twice both times harvesting some premium to dampen the drop in the price of the  underlying ETF.  Transaction details below.

 

TRANSACTION DATE: Fr.  8/17/13 

 

Action: Expire

Exp. Date: Aug 16, 2013

Strike: $40

Price: $.00

 

TRANSACTION DATE: Tues 8/20

Action: Sell to Open  

Exp. Date: Aug 23 2013 (one week out) 

Strike: $39

Price: $.22

 

TRANSACTION DATE: Thurs 8/22

Action: Buy to Close

Exp Date: Aug 23, 2013

Strike: $39

Price: $.03

 

Action Sell to Open

Exp Date: Sept 6, 2013 (two weeks out)

Strike $39

Price: $.32

 

Net credit/contract after commissions: $.48

 

Russell Small Cap (IWM) Covered Call Rolled

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:  IWM  

DESCRIPTION: iShares Russell 2000

TRANSACTION TYPE: Roll Out 

Vacation season has put CCI a little behind schedule in postings.  Last week, small caps stocks had a modest pull back.  During the beginning of the pull back,  CCI harvested some option premium and rolled the covered call position out to September.  The next day small cap stocks fell significantly and CCI "took a muligan".  Specifically,  CCI lowered the strike on the call thereby harvesting a little premium and hopefully improving the position for the next month.
 

TRANSACTION DATE: Wed. Aug 14

Action: Buy to close

Exp. Date: Aug 19,  2013

Strike: $105

Price: $.21

 

Action: Sell to Open

Exp. Date: Sep 21, 2013

Strike: $106

Price: $1.31

Net Credit/Contract after commissions: $1.02

TRANSACTION DATE: Thur. Aug 15

Action: Buy to close

Exp. Date: Sept, 21  2013

Strike: $106

Price: $.79

 

Action: Sell to Open

Exp. Date: Sep 21, 2013

Strike: $105

Price: $1.13

Net Credit/Contract after commissions: $.44

Rolled SPY Covered Call Out One Month

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: SPY

DESCRIPTION: SPDR S&P500 

 

TRANSACTION TYPE:  Rolled the monthly covered call position in the S&P 500 out one month.

TRANSACTION DATE: Fr.  8/9/13 

 

Action: Buy to Close

Exp. Date: Aug 17, 2013

Strike: $171

Price: $.33

Action: Sell to Open  

Exp. Date: Sep, 21 2013 (one month out) 

Strike: $171

Price: $1.83 

 

Net credit/contract: $1.42 after commissions

Rolled EEM Covered Call

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:  Deja vu all over again. Emerging market stocks had another sideways week and CCI rolled the $40 call out another week. (for the 5th week in a row)

 

TRANSACTION DATE: Fr.  8/9/13 

 

Action: Buy to Close

Exp. Date: Aug 9, 2013

Strike: $40

Price: $.02

Action: Sell to Open  

Exp. Date: Aug 16, 2013 (one week out) 

Strike: $40

Price: $.25

 

Net credit/contract: $.22 after commissions

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

Rolled EEM Covered Call Out One Week

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: Emerging market stocks had another sideways week and CCI rolled the $40 call out another week. (for the 4th week in a row)

 

TRANSACTION DATE: Fr.  8/2/13

 

Action: Buy to Close

Exp. Date: Aug 2, 2013

Strike: $40

Price: $.03

Action: Sell to Open  

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

Strike: $40

Price: $.26

 

Net credit/contract: $.22 after commissions

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