Rolling QQQ Options Out Two Weeks

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

With Apple (AAPL) plunging today that brought down NASDApple QQQs as well.  CCI took advantage of this pull back to harvest a little option premium. an

 

TRANSACTION DATE: Thur. 1/24/13

Action: Buy to close

Exp. Date: Jan. 25, 2013 (weekly)

Strike: $66.00

Price: $.76

 

Action: Sell to Open

Exp. Date: Feb.8, 2013 (weekly, out 2 weeks)

Strike: $66

Price: $1.13

 

Net Credit/Contract after commissions: $.32