Rolled SPY Covered Call Out and Up

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: SPDRs S&P500

TRANSACTION TYPE: Roll the Apr $157 Call to the May $158 Call

TRANSACTION RATIONALE:  The market pull back today presented an opportunity to roll one of the ICC covered calls out and up as described below. 

 

TRANSACTION DATE: Mon.  Apr. 15, 2013

 

Action: Buy to Close

Exp. Date: Apr. 20, 2013

Strike: $157

Price: $.57

 

Action: Sell to Open  

Exp. Date: May. 18, 2013  

Strike: $158  

Price: $1.48 

 

Net credit: $.84/contract after commissions.