During this past month, the Covered Calls Advisor Portfolio held a total of fourteen positions. Ten positions were closed out at a profit, two were closed out at a loss, and two Covered Call positions had their options expire out-of-the-money and both these positions currently remain in the Covered Calls Advisor Portfolio at an unrealized loss.
The specific results for each position are summarized as follows:
- One Covered Calls position in Uber Technologies Inc. (UBER) expired in-the-money (stock price above the strike price) on its April 21st, 2023 monthly options expiration date and was therefore assigned with a +2.2% absolute return-on-investment in 19 days (equivalent to a +42.1% annualized return-on-investment).
- One 100% Cash-Secured Puts position in Harmony Biosciences Holdings, Inc. (HRMY) expired with the stock price above the strike price on its April 21st, 2023 monthly options expiration date with a +3.6% absolute return-on-investment in 19 days (equivalent to a +69.2% annualized return-on-investment).
- Eight Covered Calls positions expired in-the-money on their respective Weekly options expiration dates during the past month as follows:
- Bank of America Corporation -- -5.9% absolute return-on-investment in 51 days (equivalent to a -42.2% annualized return-on-investment).
- Energy Select Sector SPDR Fund ETF -- +2.3% absolute return-on-investment in 22 days (equivalent to a +38.5% annualized return-on-investment).
- Qualcomm Inc. -- +2.1% absolute return-on-investment in 24 days (equivalent to a +31.7% annualized return-on-investment).
- SPDR S&P 500 ETF -- +1.4% absolute return-on-investment in 24 days (equivalent to a +21.2% annualized return-on-investment).
- Taiwan Semiconductor Manufacturing Co. Ltd. -- +1.7% absolute return-on-investment in 16 days (equivalent to a +38.1% annualized return-on-investment).
- Uber Technologies Inc. -- +1.9% absolute return-on-investment in 16 days (equivalent to a +44.4% annualized return-on-investment).
- U.S. Bancorp -- +3.8% absolute return-on-investment in 14 days (equivalent to a +97.8% annualized return-on-investment).
- Valero Energy Corp. -- +1.7% absolute return-on-investment in 14 days (equivalent to a +43.8% annualized return-on-investment).
- One Covered Call position in Albemarle Corporation was closed out early yesterday based on my decision at the time with a -12.7% absolute return-on-investment in 19 days (equivalent to a -244.4% annualized return-on-investment).
- One Covered Call position in EOG Resources Inc. was closed out by early assignment on the day prior to its quarterly ex-dividend date with a +0.9% absolute return-on-investment in 8 days (equivalent to a +41.7% annualized return-on-investment).
- Two Covered Calls positions closed out-of-the-money on their monthly April 21st, 2023 options expiration dates, so the options expired and the equities now remain in the Covered Calls Advisor Portfolio. These positions are 100 shares of Cigna Corporation and 1,000 shares in iShares Large-Cap China ETF. Early next week, decisions will
be made to
either close out the positions by selling the shares or to continue
the Covered Calls positions by selling future Call options
against
the shares currently held. As always, the details of all transactions will be posted on this blog site on the same day the transactions occur.
During the past year (last 12 months) 103 of 118 positions (87.3%) in the Covered Calls Advisor Portfolio (CCAP) were closed out at a profit and 15 positions were closed out at a loss. The Covered Calls Advisor Portfolio weighted average annualized-return-on-investment (aroi) was +12.0% during the past year and the average holding period for these 118 closed positions was 21.9 days. In comparison, the benchmark S&P 500 returned -3.8% during the same prior one-year period.
This Covered Calls Advisor blog homepage (see here) is available to all who are interested in learning about the Covered Calls investing strategy. As always, I encourage you to email me at partlow@cox.net any time you would like my feedback on your comments or questions related to Covered Calls.
Best Wishes,
Jeff Partlow
Covered Calls Advisor
partlow@cox.net
