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 Up

Small cap. stocks  moved up over the past weeks, and with a few days until expiration it was time to roll the covered call position as described below.

TRANSACTION DATE: Wed. July 16

Action: Buy to close

Exp. Date: July 20, 2013

Strike: $99

Price: $4.01

Action: Sell to Open

Exp. Date: Aug 19, 2013

Strike: $105

Price: $1.04

Net Credit/Contract after commissions: $3.05