Established JP Morgan Chase Covered Calls

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

Established JP Morgan Chase(JPM) Covered Calls for Aug08.

07/22/08 Bought 800 JPM @ $37.91
07/22/08 Sold 8 JPM Aug08 $37.50 Calls @ $2.31

Annualized Return If Exercised (ARIE): +73.1%
Downside Breakeven Protection: 6.1%