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.