The Covered Calls Investor Portfolio contained a total of 8 positions with December 2009 expirations, and 10 positions either with a Non-December expiration or no current covered call. The 8 positions with December expiration had the following results:
- 6 positions (IPI, AMAT, AMAT, INTC, UNG, EWY) closed in-the-money. The annualized gain/loss results (after commissions) were:
Intrepid Potash (IPI) => 35.96% (Held Since 7/30/2009)
Applied Materials (AMAT) => 28.65% (Held Since 10/20/2009)
Intel (INTC) => 14.84% (Held Since 10/21/2009)
Applied Materials (AMAT) => 40.64% (Held Since 11/11/2009)
United States Natural Gas (UNG) => 75.22% (Held Since 11/19/2009)
iShares South Korea ETF (EWY) => 39.42% (Held Since 11/30/2009)
- 2 positions in the portfolio (MRO, JACK) ended out-of-the-money.
Marathon Oil (MRO) - $30.91
100 Shares with Current Cost Basis of $31.93
Marathon Oil has continued to flutter around the $31 mark, since falling from a high of $35 in mid-November. I will continue to hold this position and sell a new call.
Jack In The Box (JACK) - $19.61
100 Shares with Current Cost Basis of $18.85
Over the past few days Jack In The Box has rebounded a bit, most likely due to simply being oversold after the earnings report in November. I will continue to hold this position and sell a new call.
The positions in the portfolio which did not have December expirations include:
United States Natural Gas (UNG)(300 Shares) - April $12 Call, 2 positions uncovered
Fluor (FLR) (100 Shares) - January $45 Call
MEMC Electronics (WFR) (100 Shares) - April $16 Call
Gamestop (GME) (100 Shares) - January $24 Covered Call
Verizon (VZ) (100 Shares) - April $31 Covered Call
New York Community Bancorp (NYB) (100 Shares) - April $12 Covered Call
Life Partners Holdings (LPHI) - 1 January $17.25 Put
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