Rolled QQQ Covered Calls Out One Week

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:  A few ups and downs this week in the market, but not too much net change. Hence, time to harvest a little option premium (about $.40 or .5% in a week) and roll out the covered call position in QQQ as described below.

 

TRANSACTION DATE: Th. 6/13/13

Action: Buy to Close

Strike: $73

Exp. Date:  June 14, 2013

Price: $0.07

 

Action: Sell to Open

 Exp. Date: June 22, 2013 (out an additional week) 

 Strike: $73

 Price: $0.34

 

Net Credit: $.25/contract  after commissions