A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established Microsoft Corporation (MSFT) Covered Calls for Apr08
03/31/08 Bought 1000 MSFT @ $28.54
04/01/08 Sold 10 MSFT Apr08 $29 Calls @ $.65
Annualized Return If Stock Price Unchanged (ARIU): +46.1%
Annualized Return If Exercised (ARIE): +78.9%
Downside Breakeven Protection: 2.3%
