September 17th, 2021 Monthly Options Expiration Results

The Covered Calls Advisor Portfolio had twelve Covered Calls positions since last month's (August 20th, 2021) monthly options expiration date.  During this past month, the Covered Calls Advisor Portfolio closed out nine of these twelve positions.   All nine positions were closed at a profit and the other three Covered Calls expired out-of-the-money on yesterday's options expiration date.  A summary of results (for all twelve positions) since the last monthly options expiration date on Aug 20th, 2021 through yesterday's monthly options expiration date of Sept 17th are described below:

• Two Covered Calls positions expired in-the-money on the September 17th monthly options expiration date, so the options expired and the stocks were sold at the strike prices with the following results: 

1. Devon Energy Corp. (DVN) -- +3.8% absolute return in 16 days (equivalent to +85.9% annualized return-on-investment).  
2. Micron Technology Inc. (MU) -- +1.4% absolute return in 11 days (equivalent to +47.0% annualized return-on-investment). 

• Two Covered Calls positions expired in-the-money on their September 3rd weekly options expiration dates, so their options expired and their stocks were sold at their respective strike prices with the following results:
  

1. Cabot Oil and Gas Corp. (COG) -- +0.6% absolute return in 29 days (equivalent to +8.0% annualized return-on-investment).  
2. Micron Technology Inc. (MU) -- +3.9% absolute return in 12 days (equivalent to +118.8% annualized return-on-investment).
   

• Three Covered Calls positions were closed out prior to their options expiration dates based on decisions made by the Covered Calls Advisor to unwind these Covered Calls positions prior to their options expiration dates with the following results:
  

1. Bank of America Corp. (BAC) -- +0.6% absolute return in 14 days (equivalent to +14.7% annualized return-on-investment).
2. Barrick Gold Corp. (GOLD) -- +1.7% absolute return in 20 days (equivalent to +31.5% annualized return-on-investment).
3. Raytheon Technologies Corporation (RTX) -- +0.3% absolute return in 19 days (equivalent to +5.5% annualized return-on-investment).

• Two Covered Calls positions were closed by early assignment on the day prior to their ex-dividend dates with the following results:

1. Cigna Corporation (CI) -- +0.6% absolute return in 9 days (equivalent to +31.2% annualized return-on-investment).
2. Tapestry Inc. (TPR) -- +2.2% absolute return in 14 days (equivalent to +57.8% annualized return-on-investment).

• Three Covered Calls positions (Boeing Co., Polaris Industries Inc., and Tyson Foods Inc.) expired out-of-the-money on the September 17th, 2021 options expiration date, so these shares now remain in the Covered Calls Advisor Portfolio (shown in the right sidebar of this blog) and decisions will be made soon to either sell these shares or to continue with these Covered Calls positions by selling future Call options against the shares currently held.

During the past year (last 12 months) 123 of 127 positions were closed out at a profit.  The average annualized return-on-investment was +36.6% and their average holding period was 22.0 days.  In comparison, the benchmark S&P 500 index returned +32.1% during the same prior one-year period.

As shown in the right sidebar, there are currently seven open positions in the Covered Calls Advisor Portfolio.  All future transactions and return-on-investment results for these positions will be posted on this blog site on the same day the transactions occur.  As always, I welcome your emails whenever you have any comments or questions related to this post or anything related to Covered Calls investing.

Best Wishes,
Jeff Partlow
Covered Calls Advisor
partlow@cox.net