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Sunday, December 23, 2012

December 2012 Expiration Results

The Covered Calls Advisor Portfolio (CCAP) contained eight covered calls positions with December 2012 expirations. A summary of the results is as follows:

- Two positions (Apple Inc. and SPDR Gold Shares) had their options expire Friday since the stock prices closed below the Dec options' strike prices.  So now, the Covered Calls Advisor Portfolio (CCAP) is long shares in these two equities.  A decision will be made during this week to either sell these shares or to re-establish covered calls positions by selling Jan2013 call options.  When these decisions are made and the accompanying transactions are completed, a post will be made on this blog on the same day with the details.

- The other six covered calls positions (Canadian Natural Resources Inc., Citigroup Inc., iShares MSCI China ETF, iShares MSCI Emerging Markets ETF, iShares MSCI South Korea ETF, and Potash Corp.) were closed out upon Dec2012 options expiration since the stocks closed above the strike prices.  Hence, the options expired and the accompanying equities were assigned at their respective strike prices.  
The cash available from the closing of these positions will be retained in the Covered Calls Advisor Portfolio until new covered calls positions with Jan2012 options expirations are established.  These transactions will be posted on this blog the same day they occur.