1. One-Month Result (Feb 2010):
The Covered Calls Advisor Portfolio (CCAP) slightly outperformed the Russell 3000 benchmark in February. The CCAP returned +3.97% in February compared with +3.37% for the Russell 3000, a +.60% (3.97%-3.37%) outperformance as follows:
CCAP February 2010 Absolute Return = +3.97%
($272,164.80-$261,772.44)/$261,772.44
Benchmark Comparison: Feb 2010 Absolute Return for Russell 3000 (IWV) = +3.37%
($64.97-$62.85)/$62.85
2. 2010 Year-to-Date Results (Jan 1st through Feb 28th, 2010):
The Covered Calls Advisor Portfolio (CCAP) has underperformed the Russell 3000 benchmark by 0.74% [-1.21%-(-0.47%)] over the first two months of 2010 as follows:
CCAP 2010 Year-to-Date Absolute Return = -1.21%
($272,164.80-$275,491.90)/$275,491.90
Benchmark Russell 3000(IWV) 2010 Year-to-Date Absolute Return = -0.47%
($64.97-$65.28)/$65.28
3. Prior Years Results:
The Covered Calls Advisor Portfolio (CCAP) was begun in September, 2007. The annualized returns achieved for 2007, 2008, and 2009 compared with the Russell 3000 benchmark results were as follows:
As a reminder, the Covered Calls Advisor uses a bottom-line performance measure to determine overall portfolio investment performance results -- it is called 'Total Account Value Return Percent'. A simple example demonstrates how it is calculated:
If the total CCAP portfolio value was $100,000 at the beginning of the calendar year and $110,000 at the end of that year (and with no deposits or withdrawals having been made), then the 'Total Account Value Return Percent' would be +10.0% [($110,000-$100,000)/$100,000]*100.
As shown in the right sidebar near the top of this page, the Covered Calls Advisor's current Overall Market Meter rating remains "SLIGHTLY BULLISH". The corresponding investing strategy is to, on-average, sell 2% out-of-the-money covered calls for the nearest expiration month (now Mar2010).
If you have any comments or questions, please feel free to submit them -- they are always welcomed. Click the 'comments' link below. If you prefer confidential communications, my email address is listed at the top-right sidebar of this blog site. Also, if you haven't already done so, consider joining the justcoveredcalls Yahoo!Group site (link), which is a very good forum for anyone interested in additional information and discussion related to covered calls.
Regards and Godspeed,
Jeff
If the total CCAP portfolio value was $100,000 at the beginning of the calendar year and $110,000 at the end of that year (and with no deposits or withdrawals having been made), then the 'Total Account Value Return Percent' would be +10.0% [($110,000-$100,000)/$100,000]*100.
As shown in the right sidebar near the top of this page, the Covered Calls Advisor's current Overall Market Meter rating remains "SLIGHTLY BULLISH". The corresponding investing strategy is to, on-average, sell 2% out-of-the-money covered calls for the nearest expiration month (now Mar2010).
If you have any comments or questions, please feel free to submit them -- they are always welcomed. Click the 'comments' link below. If you prefer confidential communications, my email address is listed at the top-right sidebar of this blog site. Also, if you haven't already done so, consider joining the justcoveredcalls Yahoo!Group site (link), which is a very good forum for anyone interested in additional information and discussion related to covered calls.
Regards and Godspeed,
Jeff
