May 26th, 2023 Options Expiration Results

The Covered Calls Advisor Portfolio had two Covered Calls positions with May 26th, 2023 weekly options expirations.  One position in Conoco Phillips closed in-the-money at $101.85 so the Calls expired and the shares were called away (i.e. sold) at the $95.00 strike price.  The second position in The Cigna Group closed out-of-the-money so the Calls expired and the 100 Cigna shares remain in the Covered Calls Advisor Portfolio.  A summary of the results for each position are as follows:

1. Conoco Phillips -- +1.6% absolute return (equivalent to +35.4% annualized return-on-investment) for the 17 days of this investment.  This Covered Calls position was assigned at the $95.00 strike price on its 5/26/2023 options expiration date since COP closed in-the-money at $101.85 per share.  The original post detailing this Covered Calls position is here. 

2. The Cigna Group (CI) -- Cigna's stock price closed yesterday at $244.10 which was well below its $260.00 strike price.  The one 5/26/2023 Cigna Call expired and 100 shares now remain in the Covered Calls Advisor Portfolio.  Early next week a decision will be made to either close out the position by selling the shares at a loss or continuing with this Covered Call position and attempting to repair it back towards breakeven by selling one CI Call against the 100 Cigna shares owned.  If you are interested in the details of this position to-date, the most recent Cigna post is shown here.

I welcome your feedback, at my email address shown below, on any topics related to the Covered Calls investing strategy.

Best Wishes and Godspeed,

Jeff Partlow
The Covered Calls Advisor
partlow@cox.net