Two new covered call positions were established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
1. Microsoft Covered Calls Established for May08
04/22/08 Bought 1000 MSFT @ $30.02
04/22/08 Sold 10 MSFT May08 $31 Calls @ $.82
Annualized Return If Stock Price Unchanged (ARIU): +39.8%
Annualized Return If Exercised (ARIE): +87.5%
Downside Breakeven Protection: 2.7%
2. Bank of New York Mellon Covered Calls Established for May08
04/22/08 Bought 500 BK @ $40.67
04/22/08 Sold 5 BK May08 $40 Calls @ $2.05
Annualized Return If Stock Price Unchanged (ARIU): +47.6%
Annualized Return If Exercised (ARIE): +47.6%
Downside Breakeven Protection: 5.0%