Rolled IWM Covered Call Up and Out

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 finally took a small step back today and CCI used the opportunity to roll/reposition the covered call position. The Jan. 24 option was closed for a small profit, but the new position gained more time and upside.

 

TRANSACTION DATE: Jan. 23

Action: Buy to close

Exp. Date: Jan. 24,  2014

Strike: $116

Price: $0.47

 

Action: Sell to Open

Exp. Date: Feb. 7, 2014 (out two weeks)

Strike: $117

Price: $0.85