Rolled IWM 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.  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:  IWM    

DESCRIPTION: iShares Russell 2000

 

TRANSACTION TYPE: Roll Out and Down

Small cap. stocks pulled back a little over the last weeks after a nice run up.  CCI used this pull back as an opportunity to roll the IWM covered call position as described below.

TRANSACTION DATE: Wed. Jun 12

Action: Buy to close

Exp. Date: June 22, 2013

Strike: $100

Price: $0.23

 

Action: Sell to Open

Exp. Date: July 20, 2013

Strike: $99

Price: $1.37

 

Net Credit/Contract after commissions: $1.09