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Friday, February 22, 2008

Buy Celanese Corp

A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:

Established Celanese Corp. Covered Calls for Mar08

02/22/08 Bought 300 CE @ $40.62
02/22/08 Sold 3 CE Mar08 40 Calls @ $1.95

Annualized Return If Exercised: +41.2%
Downside Breakeven Protection: 4.8%

This is the final investment in CCAP for now -- the portfolio is now fully invested at 99% invested and 1% cash.

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