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Thursday, October 1, 2009

Returns -- Through September 2009

This report presents the Covered Calls Advisor Portfolio (CCAP) performance results through September 2009.

1. Month of September 2009 Result:

The Covered Calls Advisor Portfolio increased by 0.34% for the month of September 2009. In comparison, the benchmark Russell 3000 index (IWV) increased by 3.87% for the month. The substantial underperformance by the CCAP this month resulted from hedging the portfolio into a net neutral position that did not benefit relative to September's strongly bullish market.


2. Year-to-Date Through September 2009 Results:

The 2009 Year-to-Date results are as follows:

CCAP Absolute Return (Jan 1st through September 30, 2009) = +33.30%
= ($266,244.22 - $199,733.10)/$199,733.10

Benchmark Russell 3000(IWV) Absolute Return (Jan 1st through September 30,2009) = +19.21%
= ($61.99 - $52.00)/$52.00

For the first nine months of 2009, the table below shows that CCAP has outperformed the Russell 3000 benchmark by 14.09 percentage points (33.30% - 19.21%):

















3. Prior Years Results:

The Covered Calls Advisor Portfolio (CCAP) was begun in September, 2007. The annualized returns achieved for 2007 and 2008 compared with the Russell 3000 benchmark results were as follows:









Note: This Covered Calls Advisor uses a bottom-line performance measure to determine overall portfolio investment performance results -- it is called 'Total Account Value Return Percent'. A simple example demonstrates how it is calculated:
If the total CCAP portfolio value was $100,000 at the beginning of the calendar year and $110,000 at the end of that year (and with no deposits or withdrawals having been made), then the 'Total Account Value Return Percent' would be +10.0% [($110,000-$100,000)/$100,000]*100.

If you have any comments or questions, please feel free to submit them -- they are always welcomed. Click the 'comments' link below or post them on the justcoveredcalls Yahoo!Group site. If you prefer confidential communications, my email address is listed at the top-right sidebar of this blog site.

Regards and Godspeed,

Jeff

2 comments:

  1. Jeff,

    I assume today was an interesting day for you? For October, have you rolled anything down yet or holding out hope today was just a blip? Just curious.

    Regards,

    Mike

    ReplyDelete
  2. Mike,
    I will roll down if/when a stock declines by more than 10 percent from the current strike price and is also very close to the new strike price. This has not happened yet for any of my positions, but I will make the roll transactions if it does occur and post the transactions on my blog on that same day.
    Jeff

    ReplyDelete