December 2011 Expiration Results

The Covered Calls Advisor Portfolio (CCAP) contained a total of nine covered calls positions with December 2011 expirations. All nine positions in the CCAP (Apple Inc., Citigroup Inc., Halliburton Co., iShares MSCI Emerging Markets ETF, iShares MSCI South Korea ETF, iShares MSCI Taiwan ETF, Morgan Stanley, Peabody Energy Corp., and Valero Energy) expired out-of-the-money. Decisions will be made to either sell these equities, or to keep them and sell calls to establish January 2012 covered call positions. The related transactions will be made this week and the actual transactions will be posted on this blog site on the same day they occur.