1. Citigroup Inc. (C) -- +2.0% absolute return (equivalent to +61.6% annualized return-on-investment) for the 12 days of this investment. The post when this position was originally established is here.
The cash now available from the assignment (i.e. closing) of this position will be retained until new Covered Calls and/or 100% Cash-Secured Puts positions are established. Given the Covered Calls Advisor's currently cautious Overall Market outlook, new positions will be hedged by continuing to establish Covered Calls at in-the-money strike prices with good downside protection.
2. Micron Technology Inc. (MU) -- Five hundred shares were out-of-the-money at $70.30 at market close yesterday since the strike price was $73.00. So, the five hundred Micron shares now remain in the Covered Calls Advisor Portfolio (as shown in the right sidebar of this blog). A decision will be made early next week to either sell these shares or, more likely, to continue this Covered Calls position by selling future Call options against the shares currently held.
I encourage you to email me at the address shown below with any questions/etc. related to Covered Calls (or their equivalent Cash-Secured Puts).
Best Wishes and Godspeed,
Jeff Partlow
The Covered Calls Advisor
partlow@cox.net
