A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established Regions Financial Corp(RF) Covered Calls for Jul08
06/03/08 Bought 1000 RF @ $16.77
06/03/08 Sold 10 RF Jul08 $17.50 Calls @ $.75
Annualized Return If Stock Price Unchanged (ARIU): +53.4%
Annualized Return If Exercised (ARIE): +88.0%
Downside Breakeven Protection: 6.7%
The annualized returns shown above includes a $.38 ex-dividend on Jun 13th.
