A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established Hewlett-Packard(HPQ) Covered Calls for Jul08.
07/08/08 Bought 400 HPQ @ $43.74
07/08/08 Sold 4 HPQ Jul08 $45.00 Calls @ $.50
Annualized Return If Stock Price Unchanged (ARIU): +37.9%
Annualized Return If Exercised (ARIE): +133.5%
Downside Breakeven Protection: 1.1%
