A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established iShares MSCI China ETF (FXI) Covered Calls for Sep08.
08/18/08 Bought 800 FXI @ $40.60
08/18/08 Sold 8 FXI Sep08 $44.00 Calls @ $.60
Annualized Return If Stock Price Unchanged (ARIU): +16.3%
Annualized Return If Exercised (ARIE): +109.0%
Downside Breakeven Protection: 1.5%
