A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established iShares MSCI South Korea ETF (EWY) Covered Calls for Sep08.
08/18/08 Bought 700 EWT @ $48.35
08/18/08 Sold 7 EWT Sep08 $50 Calls @ $1.05
Annualized Return If Stock Price Unchanged (ARIU): +24.0%
Annualized Return If Exercised (ARIE): +61.8%
Downside Breakeven Protection: 2.2%
