Returns -- Through June 2012

1. 2012 Year-to-Date Results:

As shown in the "Year-to-Date 2012" line in the chart below, the Covered Calls Advisor Portfolio (CCAP) has increased by 6.69% so far in 2012. This is 1.68 percentage points (+6.69% minus 8.37%) below the Russell 3000 index, which is the benchmark against which the Covered Calls Advisor Portfolio is compared.

The financial results were as follows:
CCAP Absolute Return (Jan 1st through June 30th, 2012) = +6.69%
($313,277.56-$293,634.14)/$293,634.14
Benchmark Russell 3000(IWV) Absolute Return(Jan 1st through June 30th, 2012) = +8.37%
($80.39-$74.18)/$74.18

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'. Here's an example to aid understanding of how the overall portfolio performance is determined: 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.


2. Prior Years Results:
This Covered Calls Advisor blog began in September 2007. The performance results for 2007 through 2011 is summarized as follows:





This table shows that the Covered Calls Advisor Portfolio has outperformed the Russell 3000 benchmark by a total of 16.94% over the 4.3 years from the start of this blog in Sepember 2007 and the end of 2011. As shown, the corresponding average compound annual return-on-investment outperformance has averaged +3.85% per year. This average is within the Covered Calls Advisor's expected range of +3% to +5% average annual outperformance for long-term results achieved from a well-managed covered calls investing program.

Also as a reminder, the Covered Calls Advisor Portfolio is not identical to the advisor's personal portfolio. However, it does provide a comparable overall portfolio return result since all equities in the CCAP are also held in this advisor's personal portfolio. To ensure comparability, all transaction dates and transaction prices herein are identical to those that were established in the Covered Calls Advisor's personal portfolio. The primary difference between the two accounts is the total number of shares held for each equity. This approach is used to preserve the confidentiality of the total value of the Covered Call Advisor's personal portfolio.

As shown in the right sidebar near the top of this page, the Covered Calls Advisor's current Overall Market Meter rating is "SLIGHTLY BULLISH". The corresponding investing strategy is to, on-average, sell 2% out-of-the-money covered calls for the nearest expiration month.

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.

Regards and Godspeed,
Jeff

Country Value Rankings

About once a quarter, the Covered Calls Advisor calculates the eight factors used to determine the current "Country Value Rankings" for 21 countries. Today's results (shown in the table below), provides a value-oriented and objective framework that assists this advisor to make decisions regarding overweighting and underweighting specific countries and regions in the Covered Calls Advisor's portfolio.

A comprehensive approach to asset allocation extends beyond diversification solely by asset classes (i.e. stocks, bonds, real estate, commodities, etc.). It should also include diversification by global geography. Behavioral finance research has clearly identified the profound tendency of most investors to succumb to "home-country bias". Legendary investor John Templeton was a leader in advocating for developing a globally oriented value investing perspective to achieve investing outperformance.

Note: For expanded view, left click on this spreadsheet






The Country Value Rankings table above is based on a weighted-average ranking system. You will notice that there are eight categories (and one factor for each category) used in the analysis of each country as follows:











The next-to-last column on the Country Value Rankings spreadsheet shows the Weighted Average Summation Total for each country.  The top 5 countries are China, Russia, Hong Kong, South Korea, and Taiwan). Thus, future investments in the Covered Calls Advisor Portfolio (shown in the right sidebar of this blog) will be overweighted in these higher rated countries. It should also be noted that the U.S. is ranked 13th of the 21 countries rated, so U.S.-based companies selected for investment will be those with significant exposure to sales in countries/regions with relatively high expected GDP Growth in 2012.

This Country Value Rankings spreadsheet is detailed in terms of both the methodolgy used and the resources used to capture the information for each country. If you are interested in these details and would like further information or clarification, please share your comments and questions in writing. They are always welcomed. Click the 'comments' link below to post your feedback. If you prefer confidential communications, my email address is listed at the top-right sidebar of this blog.

Hopefully, this information is helpful in your thinking and analysis of your own equities selection methods related to your covered calls investing process!

Regards and Godspeed to All,
Jeff

Establish Valero Energy Corp. Covered Calls

A new covered calls position was established today in the Covered Calls Advisor Portfolio(CCAP) with the purchase of Valero Energy Corp.(VLO) covered calls as follows:

Established Valero Energy Corp.(VLO) Covered Calls for Jul2012:
06/21/2012 Bought 300 VLO @ $22.82
06/21/2012 Sold 3 VLO Jul2012 $24.00 Calls @ $.46

With total capacity of approximately 3.0 million barrels per day, Valero Energy Corp. is the largest petroleum refiner and marketer in the U.S. The company has the industry's most complex and sophisticated refining system. Most of its 16 refineries throughout the U.S., Canada and Aruba are able to process heavy, low-quality crude oil. The company has a growing network of retail outlets in the Great Plains, Southwest and Northeast.


Two possible overall performance results(including commissions) for the Valero Energy Corp.(VLO) transactions would be as follows:

Stock Purchase Cost: $6,854.95
= ($22.82*300+$8.95 commission)

Net Profit:
(a) Options Income: +$126.80
= ($.46*300 shares) - $11.20 commissions
(b) Dividend Income: $0.00
(c) Capital Appreciation (If stock price unchanged at $22.82): -$8.95
= ($22.82-$22.82)*300 - $8.95 commissions
(c) Capital Appreciation (If VLO above $24.00 at Jul2012 expiration): +$345.05
+($24.00-$22.82)*300 - $8.95 commissions

Total Net Profit(If stock price unchanged at $22.82): +$117.85
= (+$126.80 +$0.00 -$8.95)
Total Net Profit(If stock price above $24.00 at Jul2012 options expiration): +$471.85
= (+$126.80 +$0.00 +$345.05)

Absolute Return if Unchanged at $22.82: +1.7%
= +$117.85/$6,854.95
Annualized Return If Unchanged (ARIU): +20.2%
= (+$117.85/$6,854.95)*(365/31 days)

Absolute Return (If stock price above $24.00 at Jul2012 options expiration): +6.9%
= +$471.85/$6,854.95
Annualized Return (If stock price above $26.00 at expiration): +81.0%
= (+$471.85/$6,854.95)*(365/31 days)

Continuation Transactions -- Halliburton Co., Market Vectors Russia Index ETF, and Morgan Stanley

Friday was options expiration for June 2012. Today, July 2012 covered calls positions were established by selling calls against long positions in three existing equities in the Covered Calls Advisor Portfolio (CCAP). The detailed transactions history for these positions are shown below. The overall return-on-investment results for each position will be calculated and presented when the positions are closed.


1. Halliburton Co. -- Continuation
03/07/2012 Bought 300 Halliburton Co. Shares @ $34.02
03/08/2012 Sold 3 HAL Mar2012 $35.00 Calls @ $.48
Note: the price of Halliburton was $34.59 today when the calls were sold.
03/18/2012 Mar2012 options expired.
03/19/2012 Sold 3 HAL Apr2012 $35.00 Calls @ $1.18
Note: the price of HAL was $34.90 when these options were sold.
04/22/2012 HAL Apr2012 Call options expired.
04/25/2012 Sold 3 HAL May2012 $35.00 Calls at $.52
Note: the price of HAL was $33.95 when these call options were sold.
05/19/2012 HAL May2012 Call options expired.
05/31/2012 Sold 3 HAL Jun2012 $30.00 Calls at $.93
Note: the price of HAL was $30.04 when these call options were sold.
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 3 HAL Jul2012 $30.00 Calls at $.72
Note: the price of HAL was $29.30 when these call options were sold.

2. Market Vectors Russia Index ETF -- Continuation
The transactions history is as follows:
03/23/2012 Bought 300 RSX @ $30.85 03/23/2012
Sold 3 RSX Apr2012 $31.00 Calls @ $1.10
Note: the price of RSX was $30.95 these call options were sold.
04/22/2012 RSX Apr2012 Call options expired.
04/25/2012 Sold 3 RSX May2012 $31.00 Calls at $.35
Note: the price of RSX was $29.72 when these call options were sold.
05/19/2012 RSX Jun2012 Call options expired.
06/04/2012 Sold 3 RSX Jun2012 $24.00 Calls at $.50
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 3 RSX Jul2012 $27.00 Calls at $.55
Note: the price of RSX was $26.12 when these call options were sold.
 
3. Morgan Stanley -- Continuation
The transactions history is as follows:
04/04/2012 Bought 300 MS @ $18.82
04/04/2012 Sold 3 MS Apr2012 $19.00 Calls @ $.66
Note: the price of MS was $18.87 today when the call options were sold.
04/22/2012 Apr2012 MS options expired.
04/26/2012 Ex-dividend of $15.00 ($.05 per share * 300 shares)
05/01/2012 Sold 3 MS May2012 $18.00 Call Options @ $.32
Note: the price of MS was $17.42 when these options were sold.
05/19/2012 MS Jun2012 Call options expired.
06/04/2012 Sold 3 MS Jun2012 $15.00 Calls at $.32
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 3 MS Jul2012 $15.00 Calls at $.53
Note: the price of MS was $14.20 when these call options were sold.

Continuation Transactions -- Apple Inc., Goldcorp Inc., Hess Corp., iShares MSCI China ETF, and iShares MSCI Emerging Markets ETF

Friday was options expiration for June 2012. Today, July 2012 covered calls positions were established by selling calls against long positions in five of the equities in the Covered Calls Advisor Portfolio (CCAP). The detailed transactions history for these positions are shown below. The overall return-on-investment results for each position will be calculated and presented when the position is closed.

1. Apple Inc. -- Continuation
The transactions history is as follows:
03/19/2012 Bought 100 AAPL shares @ $593.00
03/19/2012 Sold 1 AAPL Apr2012 $620.00 Call Option @ $18.25
Note: the price of AAPL was $595.43 when this call option was sold.
04/22/2012 AAPL Apr2012 Call options expired.
04/25/2012 Sold 1 AAPL May2012 $630.00 Call at $15.50
Note: the price of AAPL was $617.60 when this call option was sold.
05/19/2012 AAPL May2012 Call options expired.
05/31/2012 Sold 1 AAPL Jun2012 $590.00 Call at $8.60
Note: the price of AAPL was $576.56 when this call option was sold.
06/15/2012 Jun2012 option expired.
06/18/2012 Sold 1 AAPL Jul2012 $590.00 Call at $10.90
Note: the price of AAPL was $574.92 when this call option was sold.

2. Goldcorp Inc. -- Continuation
03/07/2012 Bought 200 Goldcorp Shares @ $46.75
03/08/2012 Sold 2 GG Apr2012 $48.00 Calls @ $1.55
Note: the price of Goldcorp was $47.14 today when the calls were sold.
04/22/2012 GG Apr2012 Call options expired.
04/25/2012 Sold 2 GG May2012 $43.00 Calls at $.52
Note: the price of GG was $40.69 when these call options were sold.
05/19/2012 GG May2012 Call options expired.
05/31/2012 Sold 2 GG Jun2012 $39.00 Calls at $.49
Note: the price of GG was $36.65 when these call options were sold.
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 2 GG Jul2012 $40.00 Calls at $1.28
Note: the price of GG was $38.99 when these call options were sold.

3. Hess Corp.(HES) -- Continuation
The transactions history is as follows:
03/19/2012 Bought 200 HES shares @ $62.572
03/19/2012 Sold 2 HES Apr2012 $65.00 Call Options @ $1.24
Note: the price of HES was $63.24 when these calls were sold.
04/22/2012 Apr2012 HES options expired.
05/01/2012 Sold 2 HES May2012 $55.00 Call Options @ $.74
Note: the price of HES was $53.35 when these options were sold.
05/19/2012 HES Jun2012 Call options expired.
06/04/2012 Sold 2 HES Jun2012 $45.50 Calls at $1.18
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 2 HES Jul2012 $45.00 Calls at $1.20
Note: the price of HES was $43.56 when these options were sold.

4. iShares MSCI China ETF (FXI) -- Continuation
04/18/2011 Bought 1,000 FXI @ $44.80 04/20/2011
Sold 10 FXI May2011 $47.00 Calls @ $.49
Note: the price of FXI was $45.88 when the calls were sold.
05/31/2011 Sold 10 FXI Jul2011 $47.00 Calls @ $.37
Note: The price of FXI was $45.18 when these call options were sold.
06/21/2011 FXI ETF distribution of $.68555 per share
07/16/2011 Jul2011 FXI options expired.
07/18/2011 Sold 10 FXI Aug2011 $42.00 Calls @$.71
08/20/2011 Aug2011 FXI options expired.
08/22/2011 Sold 10 FXI Sep2011 $42.00 Calls @ $.65
09/17/2011 Sep2011 FXI options expired.
09/20/2011 Sold 10 FXI Oct2011 $38.00 Calls @ $.47
10/22/2011 Oct2011 options expired.
10/26/2011 Sold 10 FXI Nov2011 $37.00 Calls @ $.86
11/19/2011 Nov2011 FXI options expired.
11/30/2011 Sold 10 FXI Jan2012 $38.00 Calls @ $1.10
Note: the price of FXI was $36.42 today when these call options were sold. 12/20/2011 Ex-Distribution $79.40 = $.0794 * 1,000 shares
01/20/2012 Bought-to-Close 10 FXI Jan2012 $38.00 Calls @ $.68
Note: the price of FXI was $38.67 when these call options were bought.
01/20/2012 Sold 10 FXI Feb2012 $40.00 Calls @ $.49
Note: the price of FXI was $38.72 today when these call options were sold. 02/17/2012 Bought-to-Close 10 FXI Feb2012 $40.00 Calls @ $.27
02/17/2012 Sold-to-Open 10 FXI Mar2012 $40.00 Calls @ $1.30
Note: the price of FXI was $40.25 when these transactions were made.
03/17/2012 Mar2012 FXI options expired.
04/03/2012 Sold 10 FXI Apr2012 $38.00 Calls @ $.44
Note: the price of FXI was $37.31 when these options were sold.
04/22/2012 FXI Apr2012 Call options expired.
04/25/2012 Sold 10 FXI May2012 $38.00 Calls at $.70
Note: the price of FXI was $37.70 when these call options were sold.
05/19/2012 FXI May2012 Call options expired.
05/31/2012 Sold 10 FXI Jun2012 $34.00 Calls at $.57
Note: the price of FXI was $33.50 when these call options were sold.
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 10 FXI Jul2012 $35.00 Calls at $.56
Note: the price of FXI was $34.57 when these options were sold.

5. iShares MSCI Emerging Markets ETF (EEM) -- Continuation
03/21/2012 Bought 500 EEM shares @ $43.31
03/21/2012 Sold 5 EEM Apr2012 $44.00 Call Options @ $.78
04/22/2012 EEM Apr2012 Call options expired.
04/25/2012 Sold 5 EEM May2012 $43.00 Calls at $.50
Note: the price of EEM was $42.20 when these call options were sold.
05/19/2012 EEM May2012 Call options expired.
05/31/2012 Sold 5 EEM Jun2012 $38.00 Calls at $.93
Note: the price of EEM was $37.53 when these call options were sold.
06/15/2012 Jun2012 options expired.
06/18/2012 Sold 5 EEM Jul2012 $39.00 Calls at $.93
Note: the price of EEM was $38.85 when these options were sold.

Roll Up and Out -- The Hartford Financial Services Group

Today was Jun2012 options expiration. With less than an hour before the market close, the existing covered calls position was rolled up and out to a Jul2012 covered calls position.

The advantage of waiting until this afternoon to roll this position was to extract almost all of the extrinsic value from the short options before establishing the position for the next expiration month.

The detailed transactions history for this covered calls position in The Hartford Financial Services Group (Symbol HIG) is shown below.  The overall return-on-investment result for this HIG covered calls position will be calculated and presented on this blog when the position is closed out.

1. The Hartford Financial Services Group (HIG) -- Continuation Transactions
The transactions history is as follows:
03/23/2012 Sold 3 Hartford Financial Services Group (HIG) Apr2012 $21.00 Put Options @ $.67
Note: the price of HIG was $21.29 today when these Puts were sold.
04/22/2012 HIG Apr2012 Puts expired.
300 shares HIG purchased at $21.00 per share.
04/25/2012 Sold 3 HIG May2012 $21.00 Calls at $.65
Note: the price of HIG was $20.72 when these Calls were sold.
05/19/2012 HIG May2012 Call options expired.
06/04/2012 Sold 3 HIG Jun2012 $16.00 Calls at $.69
06/15/2012 Bought-to-Close 3 HIG Jun2012 $16.00 Calls at $.88
Note: the price of HIG was $16.87 when these options were bought back.
06/15/2012 Sold 3 HIG Jul2012 $18.00 Calls at $.38
Note: the price of HIG was $16.99 when these options were sold.

Overall Market Meter Rating Remains "Slightly Bullish"

Each month during options expiration week, the Covered Calls Advisor recalculates the current values for each of the eight factors used to determine the "Overall Market Meter" rating. This month, the Overall Market Meter rating is unchanged at Slightly Bullish.

The eight factors used can be categorized as:
- macroeconomic (the first two indicators in the chart below),
- momentum (next two indicators in the chart),
- value (next three indicators), and
- growth (the last indicator).



The current Market Meter Average of 3.88 (see blue line in chart above) is slightly below the 4.00 of last month. The 3.88 is a Slightly Bullish rating (range from 3.5 to 4.5). Five of the eight factors used to determine the Overall Market Meter rating were unchanged from the prior analysis last month. The three factors that changed were: (1) Bank Lending changed from Bullish to Slightly Bullish; (2) Total Market to GDP Ratio changed from Slightly Bearish to Neutral; and (3) P/E Ratios changed from Slightly Bullish to Neutral.

As shown in the right sidebar, the covered calls investing strategy corresponding to this overall Slightly Bullish sentiment is to "on-average sell 2% out-of-the-money covered calls for the nearest expiration month." So with the June 2012 options expiration at the end of this week, newly established positions for July 2012 expiration will be established in accordance with this guideline.

Your comments or questions regarding this post (or the details related to any of the eight factors used in this model) are welcomed. Please click on the "comments" link below or email me at the address shown in the upper-right sidebar.

Jeff

Continuation Transactions -- Hartford Financial Services Group, Hess Corp., Market Vectors Russia Index ETF, Morgan Stanley, and Mylan Inc.

Today, June 2012 covered calls positions were established by selling calls against long positions in the five remaining equities in the Covered Calls Advisor Portfolio (CCAP). The detailed transactions history for these positions are shown below. The overall return-on-investment results for each position will be calculated and presented when the position is closed.

1. Hartford Financial Services Group -- Continuation
The transactions history is as follows:
03/23/2012 Sold 3 Hartford Financial Services Group (HIG) Apr2012 $21.00 Put Options @ $.67
Note: the price of HIG was $21.29 today when these Puts were sold.
04/22/2012 HIG Apr2012 Puts expired.
300 shares HIG purchased at $21.00 per share.
04/25/2012 Sold 3 HIG May2012 $21.00 Calls at $.65
Note: the price of HIG was $20.72 when these Calls were sold.
05/19/2012 HIG May2012 Call options expired.
06/04/2012 Sold 3 HIG Jun2012 $16.00 Calls at $.69

2. Hess Corp.(HES) -- Continuation
The transactions history is as follows:
03/19/2012 Bought 200 HES shares @ $62.572
03/19/2012 Sold 2 HES Apr2012 $65.00 Call Options @ $1.24
Note: the price of HES was $63.24 when these calls were sold.
04/22/2012 Apr2012 HES options expired.
05/01/2012 Sold 2 HES May2012 $55.00 Call Options @ $.74
Note: the price of HES was $53.35 when these options were sold.
05/19/2012 HES Jun2012 Call options expired.
06/04/2012 Sold 2 HES Jun2012 $42.50 Calls at $1.18

3. Market Vectors Russia ETF(RSX) -- Continuation
The transactions history is as follows:
03/23/2012 Bought 300 RSX @ $30.85 03/23/2012
Sold 3 RSX Apr2012 $31.00 Calls @ $1.10
Note: the price of RSX was $30.95 these call options were sold.
04/22/2012 RSX Apr2012 Call options expired.
04/25/2012 Sold 3 RSX May2012 $31.00 Calls at $.35
Note: the price of RSX was $29.72 when these call options were sold.
05/19/2012 RSX Jun2012 Call options expired.
06/04/2012 Sold 3 RSX Jun2012 $24.00 Calls at $.50

4. Morgan Stanley(MS) -- Continuation
The transactions history is as follows:
04/04/2012 Bought 300 MS @ $18.82
04/04/2012 Sold 3 MS Apr2012 $19.00 Calls @ $.66
Note: the price of MS was $18.87 today when the call options were sold.
04/22/2012 Apr2012 MS options expired.
04/26/2012 Ex-dividend of $15.00 ($.05 per share * 300 shares)
05/01/2012 Sold 3 MS May2012 $18.00 Call Options @ $.32
Note: the price of MS was $17.42 when these options were sold.
05/19/2012 MS Jun2012 Call options expired.
06/04/2012 Sold 3 MS Jun2012 $15.00 Calls at $.32

5. Mylan Inc.(MYL) -- Continuation
The transactions were as follows: 03/07/2012
Bought 500 Mylan Inc. Shares @ $22.51
03/08/2012 Sold 5 MYL Mar2012 $23.00 Calls @ $.26
Note: the price of Mylan was $22.75 today when the calls were sold.
03/18/2012 Mar2012 options expired.
03/19/2012 Sold 5 MYL Apr2012 $23.00 Calls @ $.47
Note: the price of MYL was $22.73 when these options were sold.
04/22/2012 MYL May2012 Call options expired.
04/25/2012 Sold 5 MYL May2012 $23.00 Calls at $.30
Note: the price of MYL was $22.20 when these call options were sold.
05/19/2012 MYL Jun2012 Call options expired.
06/04/2012 Sold 5 MYL Jun2012 $21.00 Calls at $.28

Returns -- Through May 2012

1. 2012 Year-to-Date Results:

As shown in the "Year-to-Date 2012" line in the chart below, the Covered Calls Advisor Portfolio (CCAP) has increased by 3.68% so far in 2012. This is 1.19 percentage points (+3.68% minus 4.87%) below the Russell 3000 index, which is the benchmark against which the Covered Calls Advisor Portfolio is compared.

The financial results were as follows:
CCAP Absolute Return (Jan 1st through May 31st, 2012) = +3.68%
($304,439.29-$293,634.14)/$293,634.14
Benchmark Russell 3000(IWV) Absolute Return(Jan 1st through May 31st, 2012) = +4.87%
($77.79-$74.18)/$74.18

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'. Here's an example to aid understanding of how the overall portfolio performance is determined: 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.


2. Prior Years Results:
This Covered Calls Advisor blog began in September 2007. The performance results for 2007 through 2011 is summarized as follows:





This table shows that the Covered Calls Advisor Portfolio has outperformed the Russell 3000 benchmark by a total of 16.94% over the 4.3 years from the start of this blog in Sepember 2007 and the end of 2011. As shown, the corresponding average compound annual return-on-investment outperformance has averaged +3.85% per year. This average is within the Covered Calls Advisor's expected range of +3% to +5% average annual outperformance for long-term results achieved from a well-managed covered calls investing program.

Also as a reminder, the Covered Calls Advisor Portfolio is not identical to the advisor's personal portfolio. However, it does provide a comparable overall portfolio return result since all equities in the CCAP are also held in this advisor's personal portfolio. To ensure comparability, all transaction dates and transaction prices herein are identical to those that were established in the Covered Calls Advisor's personal portfolio. The primary difference between the two accounts is the total number of shares held for each equity. This approach is used to preserve the confidentiality of the total value of the Covered Call Advisor's personal portfolio.

As shown in the right sidebar near the top of this page, the Covered Calls Advisor's current Overall Market Meter rating is "SLIGHTLY BULLISH". The corresponding investing strategy is to, on-average, sell 2% out-of-the-money covered calls for the nearest expiration month.

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.

Regards and Godspeed,
Jeff

Continuation Transactions -- Apple Inc., Goldcorp Inc., Halliburton Co., iShares MSCI China ETF, iShares MSCI Emerging Markets ETF

Yesterday, June 2012 covered calls positions were established by selling calls against long positions in five existing equities in the Covered Calls Advisor Portfolio (CCAP). The detailed transactions history for these positions are shown below. The overall return-on-investment results for each position will be calculated and presented when the position is closed.

1. Apple Inc. -- Continuation
The transactions history is as follows:
03/19/2012 Bought 100 AAPL shares @ $593.00
03/19/2012 Sold 1 AAPL Apr2012 $620.00 Call Option @ $18.25
Note: the price of AAPL was $595.43 when this call option was sold.
04/22/2012 AAPL Apr2012 Call options expired.
04/25/2012 Sold 1 AAPL May2012 $630.00 Call at $15.50
Note: the price of AAPL was $617.60 when this call option was sold.
05/19/2012 AAPL May2012 Call options expired.
05/31/2012 Sold 1 AAPL Jun2012 $590.00 Call at $8.60
Note: the price of AAPL was $576.56 when this call option was sold.

2. Goldcorp Inc.(GG) -- Continuation
03/07/2012 Bought 200 Goldcorp Shares @ $46.75
03/08/2012 Sold 2 GG Apr2012 $48.00 Calls @ $1.55
Note: the price of Goldcorp was $47.14 today when the calls were sold.
04/22/2012 GG Apr2012 Call options expired.
04/25/2012 Sold 2 GG May2012 $43.00 Calls at $.52
Note: the price of GG was $40.69 when these call options were sold.
05/19/2012 GG May2012 Call options expired.
05/31/2012 Sold 2 GG Jun2012 $39.00 Calls at $.49
Note: the price of GG was $36.65 when these call options were sold.

3. Halliburton Co.(HAL) -- Continuation
03/07/2012 Bought 300 Halliburton Co. Shares @ $34.02
03/08/2012 Sold 3 HAL Mar2012 $35.00 Calls @ $.48
Note: the price of Halliburton was $34.59 today when the calls were sold. 03/18/2012 Mar2012 options expired.
03/19/2012 Sold 3 HAL Apr2012 $35.00 Calls @ $1.18
Note: the price of HAL was $34.90 when these options were sold.
04/22/2012 HAL Apr2012 Call options expired.
04/25/2012 Sold 3 HAL May2012 $35.00 Calls at $.52
Note: the price of HAL was $33.95 when these call options were sold.
05/19/2012 HAL May2012 Call options expired.
05/31/2012 Sold 3 HAL Jun2012 $30.00 Calls at $.93
Note: the price of HAL was $30.04 when these call options were sold.

4. iShares MSCI China ETF (FXI) -- Continuation
04/18/2011 Bought 1,000 FXI @ $44.80 04/20/2011
Sold 10 FXI May2011 $47.00 Calls @ $.49
Note: the price of FXI was $45.88 when the calls were sold.
05/31/2011 Sold 10 FXI Jul2011 $47.00 Calls @ $.37
Note: The price of FXI was $45.18 when these call options were sold.
06/21/2011 FXI ETF distribution of $.68555 per share
07/16/2011 Jul2011 FXI options expired.
07/18/2011 Sold 10 FXI Aug2011 $42.00 Calls @$.71
08/20/2011 Aug2011 FXI options expired.
08/22/2011 Sold 10 FXI Sep2011 $42.00 Calls @ $.65
09/17/2011 Sep2011 FXI options expired.
09/20/2011 Sold 10 FXI Oct2011 $38.00 Calls @ $.47
10/22/2011 Oct2011 options expired.
10/26/2011 Sold 10 FXI Nov2011 $37.00 Calls @ $.86
11/19/2011 Nov2011 FXI options expired.
11/30/2011 Sold 10 FXI Jan2012 $38.00 Calls @ $1.10
Note: the price of FXI was $36.42 today when these call options were sold. 12/20/2011 Ex-Distribution $79.40 = $.0794 * 1,000 shares
01/20/2012 Bought-to-Close 10 FXI Jan2012 $38.00 Calls @ $.68
Note: the price of FXI was $38.67 when these call options were bought.
01/20/2012 Sold 10 FXI Feb2012 $40.00 Calls @ $.49
Note: the price of FXI was $38.72 today when these call options were sold. 02/17/2012 Bought-to-Close 10 FXI Feb2012 $40.00 Calls @ $.27
02/17/2012 Sold-to-Open 10 FXI Mar2012 $40.00 Calls @ $1.30
Note: the price of FXI was $40.25 when these transactions were made.
03/17/2012 Mar2012 FXI options expired.
04/03/2012 Sold 10 FXI Apr2012 $38.00 Calls @ $.44
Note: the price of FXI was $37.31 when these options were sold.
04/22/2012 FXI Apr2012 Call options expired.
04/25/2012 Sold 10 FXI May2012 $38.00 Calls at $.70
Note: the price of FXI was $37.70 when these call options were sold.
05/19/2012 FXI May2012 Call options expired.
05/31/2012 Sold 10 FXI Jun2012 $34.00 Calls at $.57
Note: the price of FXI was $33.5003/21/2012 when these call options were sold.

5. iShares MSCI Emerging Markets ETF (EEM) -- Continuation
03/21/2012 Bought 500 EEM shares @ $43.31
03/21/2012 Sold 5 EEM Apr2012 $44.00 Call Options @ $.78
04/22/2012 EEM Apr2012 Call options expired.
04/25/2012 Sold 5 EEM May2012 $43.00 Calls at $.50
Note: the price of EEM was $42.20 when these call options were sold.
05/19/2012 EEM May2012 Call options expired.
05/31/2012 Sold 5 EEM Jun2012 $37.50 Calls at $.93
Note: the price of EEM was $37.53 when these call options were sold.