The Covered Call Analyzer
This is a rolling portfolio and we will look at open positions and make new trades using monies from called positions each month on expiration weekend.
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100 shares of
RMBS at $18.28 and sell 1 contracts of BNQ CD (Mar$20.00 ) at $0.95 expiring on 3/22/2008.
Not called in March. Price at $17.67 and value at $2,014 at 3/17/2008. Will now sell
Apr20 at $1.75. Called on April 19, 2008 at $20.00.
Proceeds $1,990 after commission.
100 shares of
TSRA at $14.62 and sell 1 contracts of TJQ DW (Apr$17.50 ) at $1.25 expiring on 4/19/2008.
Called on April 19, 2008 at $17.50.
Proceeds $1,740 after commission.
Buy
100 shares of
SLM at $15.78 and sell 1 contracts of SLM DW (Apr$17.50 ) at $1.15 expiring on 4/19/2008.
Not called in April. Price at $17.20 and value at $1,720 at 4/19/2008.
Will now sell May17.5 at $1.20.
Buy
100 shares of
MDCO at $18.20 and sell 1 contracts of MQL DD (Apr$20.00 ) at $1.30 expiring on 4/19/2008.
Not called in April. Price at $18.02 and value at $1,802 at 4/19/2008. Will now sell
May20 at $0.40.
Buy
100 shares of
XMSR at $11.94 and sell 1 contracts of QSY DV (Apr$12.50 ) at $1.30 expiring on 4/19/2008.
Not called in April. Price at $10.75 and value at $1,075 at 4/19/2008.
Will now sell May12 at $0.25. Note that the strike price is now in $1.00
increments.
Buy
100 shares of
IDCC at $19.46 (closing last
trade price) and sell 1 contracts of DAQ DD (Apr$20.00 ) at $1.20 (closing
bid price) expiring on 4/19/2008.
Not called in April. Price at $18.82 and value at $1,882 at 4/19/2008. Will now sell
May20 at $0.80.
Buy
100 shares of GTX INC (GTXI)
at $14.98 (closing last trade price) and sell 1 contracts of GQH EW
(May$17.50) at $1.35 (closing bid price) expiring on 5/17/2008. Cost is $1,508, and income
from sale of the calls is $124 and includes your commissions. Annualized
return if called is 295%.
Buy
100 shares of DOWNEY FINANCIAL CORP (DSL)
at $16.15 (closing last trade price) and sell 1 contracts of DSL EW
(May$17.50) at $1.65 (closing bid price) expiring on 5/17/2008. Cost is $1,625, and income
from sale of the calls is $154 and includes your commissions. Annualized
return if called is 207%.
Buy 100 shares of INTEROIL CORP
(IOC) at $18.55 (closing last trade price) and sell 1 contracts of IOC ED
(May$20.00) at $1.45 (closing bid price) expiring on 5/17/2008. Cost is
$1,865, and income from sale of the calls is $134 and includes your
commissions. Annualized return if called is 174%. Totals for
April:
*After the effect of all commissions.
The
stocks listed above are for illustrative and educational purposes only and
should not be construed as an endorsement, recommendation, or solicitation to
buy or sell any particular security.
On January 19, 2008 (expiration weekend), Investment Enhancing Systems, Inc.
initiated a new $10,000 aggressive portfolio for 2007, This portfolio uses
stocks identified in our Aggressive "Stocks-to-Consider" list by selecting
buy/writes from the "Stocks with high or negative PE ratios" list. We have set
the money available to $2,000 and have reduced the
commissions for purchasing the stock to $9.95 and selling the calls to $9.95
plus $1.50 per contract in our parameters page. Several low cost, on-line
brokers offer these low commissions. Since it is an aggressive portfolio, we
keep the premium income and stock price appreciation to the strike price in the
portfolio. We update the portfolio each month on expiration weekend. Our
objective is to maintain and grow the portfolio. The table above lists details
of stocks bought and calls sold, and when we held the stock or exercised our
get-out price. Note: In all of our lists and portfolios, we have
established a get-out price which we exercise when the stock price drops 15%. If
this happens during the month, we will get-out and report the sale of the stock
and the buy-back of the calls at the next expiration weekend postings. We
anticipate good months and poor months, with a general gain at year end.
Patience usually wins. Because this portfolio is limited in diversity, it will
be much more difficult to realize the types of gains in our larger portfolios.
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© 1996-2008 Investment Enhancing
Systems, Inc.- Incorporated in Illinois and registered in the Cook County
Call Premium
Cost
Balance
Balance from
March:
$1,169
From Aggressive
"Stocks-to-Consider" for
February 16, 2008 and putting $2,000 in the money
available field
$3,159
From Aggressive
"Stocks-to-Consider" for
March 22, 2008 and putting $2,000 in the money
available field
$4,899
$109
still own shares
$5,008
$29
still own shares
$5,037
$14
still own shares
$5,051
$69
still own shares
$5,120
From Aggressive
"Stocks-to-Consider" for
April 19, 2008 and putting $2,000 in the money
available field
$124
$1,508
$3,739
$154
$1,625
$2,268
$134
$1,865
$237
$633
$237
Portfolio value at April 19, 2008 is
$11,684*,
up 16.8%.