Adjusted Covered Call Position in SPY

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: SPDR S&P500  
TRANSACTION TYPE:    The market moved down aggressively and the previous covered call lost its effectiveness.  CCI harvested profits and rolled the call down two strikes.  CCI will be looking to roll the call out to March if/when market conditions allow.

TRANSACTION DATE: Fri. 01/31/14

 

Action: Buy to Close

Exp. Date: Feb. 22,  2014

Strike: $185

Price: $.25

 

Action: Sell to Open  

Exp. Date: Feb. 22  2014 (rolled out nearly three weeks) 

Strike: $183

Price: $.56