ETF Covered Calls 05-16-2008

Options Expiry is finally here! Much to report….I closed out my DDM/DDMEZ position yesterday in my mini account and some other activity:

In my arbitrage account, OIHER will definitely be assigned and my OIH shares will be sold at $190. My other positions, XXJEW, will expire worthless and I’ll get to sell more calls for June with XHB.

In my power account, my EEBEA calls will be assigned and my EEB shares will be sold at $53. Most of my accounts will have hefty cash balances and this is the position I like to be in going into the summer. Peak driving season, hurricane season and other world events have me positioned correctly.

It’s time to look forward to June ETF Covered Calls and here are this weeks ETF-Cashinator picks:

2008_0516.png 2008_0516b.png 2008_0516puts.png

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