1. Wells Fargo Inc. (WFC) -- +1.3% absolute return (equivalent to +40.3% 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. iShares Large-Cap China ETF (FXI) -- Five hundred shares were out-of-the-money at $30.24 at the market close yesterday since the strike price was $30.50. So, the five hundred FXI 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 to continue this Covered Calls position by selling future Call options against the shares currently held.
Food-for-Thought: About once a month I change the "Words of Wisdom" quotation in the right sidebar of my blog (view my blog homepage is here). I just added a new one today: "It’s the little details that are vital. Little things make big things happen."--John Wooden. My own Investing Pyramid of Success (see here) was developed from legendary basketball coach and teacher John Wooden's Pyramid of Success. Coach Wooden's quotation reminded me of the twelve "edges" (analogous to Coach Wooden's "little details") that we can benefit us as Covered Calls investors (see this article here).
I encourage your feedback on any topics related to the Covered Calls investing strategy. My email address is shown below.
Best Wishes and Godspeed,
Jeff Partlow
The Covered Calls Advisor
partlow@cox.net
