Each month during expiration week, the Covered Calls Advisor re-calculates each of the current values for the nine factors used to determine the "Overall Market Meter" rating. As shown in the chart below, the new Overall Market Meter Average rating (blue bar at the bottom of the chart) remains unchanged at "Slightly Bullish":
The current Market Meter Average of 3.89 is above the 3.67 of last month and as such remains at Slightly Bullish for establishing covered calls investing positions for the upcoming options expiration month of August 2010.
As shown in the right sidebar, the covered calls investing strategy corresponding to this Slightly Bullish sentiment is to "on-average sell 2% out-of-the-money covered calls for the nearest expiration month." So with the current July 2010 options expiration, new positions for Aug2010 expiration will be established in accordance with this guideline.
For a more detailed explanation of each of the Covered Calls Advisor's nine indicators, please refer to this prior blog post on that topic -- link.
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Regards and Godspeed to All,