Rolled QQQ 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

 

 DESCRIPTION:   QQQ continued to rise this week and CCI ran out of time and was forced to roll an option out and up as described below.

 

TRANSACTION DATE: Fri. 4/12/13

Action: Sell to Open

Exp. Date:  Apr. 12, 2013

Price: $1.30

 

Action: Sell to Open

 Exp. Date: Apr. 26, 2013 (out an additional 2 weeks ) 

 Strike: $69

 Price: $1.23

 

Net Debit: $.10/contract  after commissions