Rolled SPY 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. A reader can find details about the rationale and management of this position here.  The latest trade for this position is discussed below.


UNDERLYING ETF: SPY
DESCRIPTION: SPDR S&P 500

TRANSACTION DESCRIPTION: The S&P 500 has mostly continue its upward march.  With Only two days left until expiration CCI rolled the covered call position with an aggressive strike price believing there could be a reversion to the mean over the coming month.

ACTION: But to Close
EXP DATE: Jan 21, 2014
STRIKE: $181
PRICE: $3.21

ACTION: Sell to Open
EXP DATE: Feb 22, 2014
STRIKE: $185
PRICE:  $2.06