The Covered Calls Advisor Portfolio (CCAP) covered calls position in Bank of America(BAC) was closed out today (7/20/09).
The transactions history was as follows:
06/30/09 Bought 1000 BAC @ $13.25
06/30/09 Sold 10 BAC Jul09 $13.00 Calls @ $.82
07/18/09 Jul09 Options Expired
07/20/09 Sold 1000 BAC @ $12.615
The overall performance results(including commissions) for the BAC transactions are as follows:
Stock Purchase Cost: $13,258.95
($13.25*1000+$8.95 commission)
Net Profit:
(a) Options Income: +$803.55 (1000*$.82 - $16.45 commissions)
(b) Dividend Income: +$0.00
(c) Capital Appreciation: -$643.95
= ($12.615-$13.25)*1000 - $8.95 commissions
Total Net Profit: +$159.60
= (+$803.55 +$0.00 -$643.95)
Absolute Return = +1.2%
= +$159.60/$13,258.95
Annualized Return: +22.0%
= (+$159.60/$13,258.95)*(365/20 days)
