A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established Accenture Ltd.(ACN) Covered Calls for Jul08.
05/23/08 Bought 1000 ACN @ $36.70
05/27/08 Sold 10 ACN Jul08 $40 Calls @ $.80
Annualized Return If Stock Price Unchanged (ARIU): +15.0%
Annualized Return If Exercised (ARIE): +76.9%
Downside Breakeven Protection: 2.2%
