ETF Covered Calls 04-18-2008

Here’s an update on the transactions:

In the Power Funds Account:

Bought 200 QID (Short QQQ) @ $46.74 and Sold 2 QIDDU (April $47 Strikes) for $1.20 to earn 2.5% return. As of close of business today, QID will likely close below strike price so my options will expired worthless. UPDATE: CLOSED AT $43.22

Plan of action: Sell 2 more contracts for May $47 strikes or July $47 strikes.

In the Mini Funds Account:

Bought 200 DDM (Double Long Dow) @ $74.60 and Sold 2 DDMDW (April $75 strikes) for $2.05 to earn 2.65% return. As of close of business today, DDM will likely close above strike price so my options will be assigned and I’ll be in 100% cash. UPDATE: CLOSED $77.80

Plan of Action: Look for opportunities, perhaps XHB or SSO.

In the Arbitrage Account:

Bought 400 XHB (Home Builders) @ $22.72 and Sold 4 XXJDW (April $23 Strikes) for $0.70 to earn 3% return. As of close of business today, XHB will likely close above strike so my options will be assigned and I’ll be in cash. UPDATE: CLOSED $22.86

Plan of Action: Look for opportunities, perhaps XHB or SSO. Sell more XHB calls!

Here is the ETF-Cashinator report for looking at May 2008.

2008_0418.png 2008_0418puts.png

ETF Covered Calls website is for educational and entertainment purposes only. Any investment activity is not without risk including loss of principal. Neither this website nor its authors assume any responsibility arising from the use or misuse of any information presented in this blog. You are urged to contact a financial adviser before making any investment decisions. Past performance is no indication of future performance.

© ETFCoveredCalls.com

About Investor Host

ETF Covered Calls.
This entry was posted in ETF Cashinator, ETF-Putinator. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

*


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>