These are my thoughts and opinions on many topics. My passions are the stock market and helping abandoned and orphaned animals. In this world, it seems most things don't make much sense to me anymore. This is my feeble attempt to share all of the above. The blogs will include items that might make you shake my head as well as give you my take on why they happen. Enjoy.

Friday, March 12, 2010

Covered call Scoreboard - March 2010

In my second month of writing covered calls against the stocks that I own I have been able to grab another 1/2% of income for my portfolio. They are to expire next week.

The covered calls include:
MO $21 strike
AA $15 strike
GDXJ $27 strike
NLY $18 strike
MGM $12 strike
WFMI $32 strike

As of this post, the options that may be exercised are the NLY, WFMI, and the MGM calls. I expect that all three of these will expire worthless.....but I have been wrong before. We shall see.

For the two months of covered calls that I have written, I have been able to obtain a 1.5% of income for my portfolio. I expect that for the year, I should be able to obtain 10% from covered call positions alone.

1 comment:

  1. JC sgsin, I sold some more calls on MGM and WFMI today bringing my added income for the month to 1% for the second straight month.

    I do expect MGM, WFMI, and NLY to be exercised, however I have achieved some nice gains along the way and am locking those in.

    I will buy back into MGM and WFMI and possibly NLY to grab the divy and another set of covered calls. NLY I might not hang on to much beyond April 2010 options expiration.