A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) as follows:
Established SunTrust Banks Inc (STI) Covered Calls for Sep08.
08/19/08 Bought 300 STI @ $39.91
08/19/08 Sold 3 STI Sep08 $40.00 Calls @ $2.70
Note: Returns below include $.77 ex-dividend on 8/28/08.
Annualized Return If Stock Price Unchanged (ARIU): +99.1%
Annualized Return If Exercised (ARIE): +101.7%
Downside Breakeven Protection: 8.7%
