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

 

DESCRIPTION:   Late last week CCI rolled up and out the covered calls in this position as described below.

 

TRANSACTION DATE: Th. 4/26/13

Action: Buy to Close

Exp. Date:  Apr. 26, 2013

Price: $0.74 

 

Action: Sell to Open

 Exp. Date: May 3, 2013 (out an additional  week) 

 Strike: $69.50

 Price: $0.65

 

Net Debit: $.09/contract  after commissions