Re-establish QQQ Covered Call

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: Establish

 

DESCRIPTION:   Re-established a covered call position in QQQ as described below.

TRANSACTION DATE: Fr. 7/19/13

Action: Buy Stock

Strike: $74.52

 

Action: Sell to Open

 Exp. Date: July 26, 2013 (out one week) 

 Strike: $75

 Price: $0.32

 

Net Debit: $74.22/contract  after commissions