- Alphabet Inc. (GOOGL) -- +1.7% absolute return (equivalent to +25.8% annualized) for the 24 days of this investment
- Cigna Corp. (CI) -- +1.3% absolute return (equivalent to +51.6% annualized) for the 9 days of this investment
- Deere & Co. (DE) -- +2.7% absolute return (equivalent to +45.6% annualized) for the 22 days of this investment
- D.R. Horton Inc. (DHI) -- +2.4% absolute return (equivalent to +46.0% annualized) for the 19 days of this investment
- Lincoln National Corp. (LNC) -- +5.2% absolute return (equivalent to +79.8% annualized) for the 24 days of this investment
- Micron Technology Inc. (MU) -- +2.7% absolute return (equivalent to +39.3% annualized) for the 25 days of this investment
The cash now available will be retained until new Covered Calls and/or 100% Cash-Secured Puts positions are established. Given the Covered Calls Advisor's Overall Market Meter outlook of 'Bearish', new positions will be hedged by establishing Covered Calls at moderately in-the-money strike prices with good downside protection, that being normally with Deltas greater than 70.
The Fifth Third Bancorp Covered Calls position at the $19.00 strike price closed slightly out-of-the-money at $18.76 at options expiration. So, the 5 June 17th Call options expired and the 500 FITB shares remain in the Covered Calls Advisor Portfolio. It is likely that the shares will be sold very soon (probably this Monday) to close out this position. The FITB dividend was captured and the cash received from selling these shares will likely be used to established another Covered Calls position in a bank stock (such as in C, MS, or CFG) using the Covered Calls Advisor's Dividend Capture Strategy. As always, transactions in the Covered Calls Advisor Portfolio will be posted on this blog on the same day they occur.
Please email me at partlow@cox.net with any questions or comments related specifically to this post or to anything else related to Covered Calls investing.
Best Wishes and Godspeed,
Jeff Partlow
